Expect negative revisions from Tesla, says Barclays' Dan Levy

Published: Jun 04, 2024 Duration: 00:03:46 Category: News & Politics
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THE WORLD ON RUNNING YOUR BUSINESS, DO YOU REALLY WANT TO NOT TREAT HIM PROPERLY? >> WELL, THERE MAY BE EVEN BIGGER PROBLEMS FOR TESLA, AS IT REPORTS COOLING SALES AND THE OVERALL EV MARKET IS SLOWING DOWN OR SHOWING SIGNS OF IT. WHILE ANNUAL SALES CONTINUE TO GROW, THE GROWTH RATE IS DIPPING, ACCORDING TO COX AUTOMOTIVE. OUR NEXT GUEST SEES A FEW THEMES AT PLAY HERE, IN WHAT HE'S CALLING AN EV WINTER. JOINING US FOR MORE IS DAN LEVY, SENIOR AUTO ANALYST AT BARCLAYS. GOOD TO HAVE YOU WITH US. IS THE EV MARKET GLOBALLY TOO BEHOLDEN TO GOVERNMENT POLICIES, IN OTHER WORDS, SUBSIDIES ON THE ONE HASN'T, PENALTIES ON THE OTHER. >> TYLER, THANK YOU SO MUCH FOR HAVING ME. LOOK, WHEN WE THINK ABOUT WHAT'S DRIVING EV PENETRATION, THE ANALOGY WE HAVE USED IS CARROT STICKS AND TAMBOURINES. HOW DO YOU DRIVE EV PENETRATION? CARROT STICKS AND TAMBOURINES. THE CARROT STICKS IS THE GOVERNMENT. FOR THE FORESEEABLE FUTURE, THE GOVERNMENT WILL PLAY A CRITICAL ROLE. BUT ALSO, FROM THE REGULATIONS, THAT'S JUST NOT GOING AWAY. EVEN IF IT'S SLOWING OR GETS PUSHED OUT, THERE'S STILL A REGULATORY MANNINGDATE. >> DO YOU EXPECT THAT SOME OF THOSE REGULATORY MANDATES NEW CARS THAT CAN AND WILL BE SOLD IN THIS COUNTRY, WILL BE CHANGED? IT'S HARD FOR ME TO BELIEVE THAT ULTIMATELY NO INTERNAL COMBUSTION ENGINE AUTOMOBILES, IN ONES, WILL BE SOLD IN THIS COUNTRY IN TEN YEARS. >> THE REGULATIONS ARE DEFINITELY FLUID, RIGHT? WE SAW THAT ALREADY WITH EPA PLANS INITIALLY PUT OUT LAST YEAR, AND ALREADY REVISED MODESTLY LOWER THIS YEAR. WE KNOW, IN NOVEMBER IF TRUMP GETS ELECTED, THOSE REGULATIONS WILL PROBABLY GET SOFT ABLED AS WELL, AND ANYTHING BEYOND 2030 IS MORE ASPIAASPIRATIONAL. >> THERE'S A PUSH FOR DECARBONIZATION, BUT A RECOGNIZE WHERE CONSUMERS AND CAR MAKERS ARE IN THIS JOURNEY. >> I JUST WANT TO TALK FOR A MOMENT ABOUT TESLA LOSING A SHARE. YOU'RE SEEING IT IN CHINA, EUROPE, EVEN IN THE U.S. WHERE DOES THAT LEAVE THE STOCK? >> YEAH, YOU KNOW, THE FUNDAMENTALS FOR TESLA ARE IN A TRICKY POSITION RIGHT NOW. WE GENERALLY EXPECT NEGATIVE REVISIONS. PART OF THAT IS THE VOLUME HAS GONE DOWN. WE'RE AT FLAT VOLUME. EVEN THAT, SOME PEOPLE WOULD SAY, WILL SAY THAT IS TOUGH TO ACHIEVE. I THINK PART OF THE CHALLENGE HERE IS THAT THEY ARE RELYING VERY HEAVILY ON MODEL 3s AND Ys, AND AS GOOD PRODUCTS AS THEY ARE, THERE'S A MODEL CONCENTRATION CHALLENGE. THE U.S., IT'S NATURAL THEY'LL SEE SOME SHARE EROSIONS, JUST GIVEN HOW STRONG A SHARE POSITION THEY'RE AT, BUT IT'S JUST A LACK OF COMPETITION. EUROPE, ESPECIALLY CHINA, ARE VERY

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