Fund Manager Advises Tesla 'Try A Different Dance Move' After EV Maker's Obsession With Price Cuts Doesn't Yield Results
Fund Manager Advises Tesla 'Try A Different Dance Move' After EV Maker's Obsession With Price Cuts Doesn't Yield Results
Tesla, Inc. (NASDAQ:TSLA) shares continue to see-saw, and on Wednesday they underperformed the broader market. As the lackluster phase is having an extended run, a fund manager delved into how the company can turn things around.
特斯拉公司（納斯達克股票代碼：TSLA）的股價繼續下跌，週三它們的表現低於整個市場。由於乏善可陳的階段已經持續了很長時間，一位基金經理深入研究了公司如何扭轉局面。
What Happened: The biggest threat Tesla currently faces is the likelihood of more price cuts, said Future Fund's Gary Black in a post on X, formerly Twitter. He termed it as an internal risk.
發生了什麼：未來基金的加里·布萊克在X（前身爲Twitter）的一篇文章中說，特斯拉目前面臨的最大威脅是進一步降價的可能性。他稱之爲內部風險。
Black estimates that Tesla's earnings power may have been reduced by 48% by the price cuts implemented over the past 18 months. From $4.82 18 months ago, the 2024 earnings per share estimate now stands at $2.53, he said.
布萊克估計，由於過去18個月中實施的降價，特斯拉的盈利能力可能下降了48％。他說，從18個月前的4.82美元開始，2024年的每股收益估計爲2.53美元。
The fund manager also took a dig at the management for not trying out other strategies. "It's as if TSLA's marketing team has no other levers," he said. The Tesla bull was alluding to communications to convince ICE owners as to why they should choose an electric vehicle and also persuading them to buy Teslas instead of Audis, BMWs, Mercedes, Volvos, and other luxury cars.
該基金經理還對管理層進行了挖掘，理由是他沒有嘗試其他策略。他說：“好像TSLA的營銷團隊沒有其他槓桿了。”特斯拉的牛市暗示通過溝通說服ICE車主他們爲什麼應該選擇電動汽車，還說服他們購買特斯拉而不是奧迪、寶馬、梅賽德斯、沃爾沃和其他豪華車。
Black also underlined the futility of the price cuts as they haven't generated any incremental volume. Tesla's first-quarter deliveries fell by 8.5% year-over-year, and second quarter's are on track to decline a steeper 10%, he said.
布萊克還強調了降價的徒勞性，因爲降價並未產生任何增量。他說，特斯拉第一季度的交付量同比下降8.5％，第二季度的交付量有望進一步下降10％。
"I'm not suggesting I know better than mgmt. I am suggesting TSLA acquire some new skills and try a different dance move," he said.
“我並不是說我比管理更了解。我建議TSLA掌握一些新技能，嘗試不同的舞蹈動作，” 他說。
The biggest threat facing $TSLA stock is an internal risk: more price cuts. TSLA's price cuts over the past 18 months have reduced TSLA FY'24 earnings power by 48% – from $4.82 to $2.53. It's as if TSLA's marketing team has no other levers (e.g. comms to convince ICE owners why... pic.twitter.com/RqwjvR6fMu
— Gary Black (@garyblack00) May 23, 2024
$TSLA股票面臨的最大威脅是內部風險：進一步降價。TSLA在過去18個月中的降價使TSLA24財年的盈利能力下降了48％，從4.82美元降至2.53美元。好像 TSLA 的營銷團隊沒有其他槓桿手段（例如通信可以說服 ICE 所有者爲什麼... pic.twitter.com/rqwjvr6FMU）
— 加里·布萊克 (@garyblack00) 2024 年 5 月 23 日
Why It's Important: Tesla's shares have fallen sharply from its all-time intraday peak of $414.50 hit on Nov. 4, 2021. The management's strategy of undercutting competition has only backfired. The price cuts that began in China in late-2022, were extended to other geographies since the start of 2023. As a result, core auto gross margin and profitability took a big hit.
爲何重要：特斯拉的股價已從2021年11月4日創下的414.50美元的歷史盤中峯值大幅下跌。管理層削弱競爭的策略適得其反。2022年底在中國開始的降價措施自2023年初以來已擴大到其他地區。結果，核心汽車毛利率和盈利能力受到重大打擊。
Tesla mostly stalled downward price tinkering this year but margins are yet to meaningfully inflect higher, while the demand outlook hasn't improved.
特斯拉今年的價格調整基本停滯不前，但利潤率尚未顯著提高，需求前景也沒有改善。
Black has been striving to impress upon the Tesla management the need to advertise and launch a sub-$30,000 EV – both of which, according to him, could give volume a big boost. The management commentary on the first-quarter earnings call suggests the company may have put its low-end EV project on the backburner and was instead looking to prioritize full self-driving technology and robotaxis.
布萊克一直在努力給特斯拉管理層留下深刻的印象，讓他們意識到需要宣傳和推出一輛低於3萬美元的電動汽車——據他說，這兩者都可能極大地提高銷量。管理層對第一季度業績電話會議的評論表明，該公司可能已將其低端電動汽車項目置於次要地位，而是希望優先考慮全自動駕駛技術和機器人出租車。
Tesla ended Wednesday's session down 3.48% at $180.11, according to Benzinga Pro data.
根據Benzinga Pro的數據，特斯拉週三收盤下跌3.48％，至180.11美元。
Check out more of Benzinga's Future Of Mobility coverage by following this link.
通過以下方式查看更多本辛加的《出行未來》報道 點擊這個鏈接。
Photo via Shutterstock
照片來自 Shutterstock
譯文內容由第三人軟體翻譯。