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（纳斯达克股票代码：TSLA）的股价继续下跌，周三它们的表现低于整个市场。由于乏善可陈的阶段已经持续了很长时间，一位基金经理深入研究了公司如何扭转局面。
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.
发生了什么：未来基金的加里·布莱克在X（前身为Twitter）的一篇文章中说，特斯拉目前面临的最大威胁是进一步降价的可能性。他称之为内部风险。
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.
布莱克估计，由于过去18个月中实施的降价，特斯拉的盈利能力可能下降了48％。他说，从18个月前的4.82美元开始，2024年的每股收益估计为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.
该基金经理还对管理层进行了挖掘，理由是他没有尝试其他策略。他说：“好像TSLA的营销团队没有其他杠杆了。”特斯拉的牛市暗示通过沟通说服ICE车主他们为什么应该选择电动汽车，还说服他们购买特斯拉而不是奥迪、宝马、梅赛德斯、沃尔沃和其他豪华车。
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.
布莱克还强调了降价的徒劳性，因为降价并未产生任何增量。他说，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进一步下降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.
“我并不是说我比管理更了解。我建议TSLA掌握一些新技能，尝试不同的舞蹈动作，” 他说。
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股票面临的最大威胁是内部风险：进一步降价。TSLA在过去18个月中的降价使TSLA24财年的盈利能力下降了48％，从4.82美元降至2.53美元。好像 TSLA 的营销团队没有其他杠杆手段（例如通信可以说服 ICE 所有者为什么... pic.twitter.com/rqwjvr6FMU）
— 加里·布莱克 (@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.
为何重要：特斯拉的股价已从2021年11月4日创下的414.50美元的历史盘中峰值大幅下跌。管理层削弱竞争的策略适得其反。2022年底在中国开始的降价措施自2023年初以来已扩大到其他地区。结果，核心汽车毛利率和盈利能力受到重大打击。
Tesla mostly stalled downward price tinkering this year but margins are yet to meaningfully inflect higher, while the demand outlook hasn't improved.
特斯拉今年的价格调整基本停滞不前，但利润率尚未显著提高，需求前景也没有改善。
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.
布莱克一直在努力给特斯拉管理层留下深刻的印象，让他们意识到需要宣传和推出一辆低于3万美元的电动汽车——据他说，这两者都可能极大地提高销量。管理层对第一季度财报电话会议的评论表明，该公司可能已将其低端电动汽车项目置于次要地位，而是希望优先考虑全自动驾驶技术和机器人出租车。
Tesla ended Wednesday's session down 3.48% at $180.11, according to Benzinga Pro data.
根据Benzinga Pro的数据，特斯拉周三收盘下跌3.48％，至180.11美元。
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译文内容由第三方软件翻译。