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Tesla’s effects (Tsla-8.68%) The damage of the “unprecedented” brand even surprised JP Morgan analysts (Jpm-6.59%), which had already described the counterpoup against the CEO Elon Musk as unparalleled in the history of the automotive industry.
“The report on sales and the production of Tesla makes us think that – if something – we may have underestimated the degree of reaction of consumers,” said analysts led by Ryan Brinkman in a note on Friday.
Tesla has become a Easy target for demonstrators Angry by Musk’s support for President Donald Trump and Musk’s work in the federal government leading the government’s ministry (DOGE). Non-violent and anti-TESLA demonstrations have taken place through the United States and other countries, while vandalism against customers and business facilities has increased.
Tesla based in Austin, Texas Delivered 336 681 Electric Vehicles between January and March, well below the expectations of Wall Street; JP Morgan, for example, had a forecast of 355,041 units, which was lower than the consensus. This period has marked Tesla’s worst quarterly performance since 2022 and its poorest compared to the consensus of Wall Street.
Gene Munster from Deepwater Asset Management, a Tesla Bull, estimates That Tesla lost around 80,000 deliveries following the brand’s lesions. Analyst Bull Bull, Wedbush Securities, Dan Ives, described the report on sales of “disaster on each metric” and said that there was no debate on the question of whether Musk’s policy hurts Tesla.
The Brinkman team notes that the last time deliveries failed a similar degree, in the first quarter of 2024, sales dropped by 10% below expectations. Several analysts have reduced their sales expectations in full year for Tesla by tens of thousands of vehicles.
“We see risks for deliveries and expectations of profits for each quarter in the future,” wrote JP Morgan analysts. This will be particularly true in the quarter from April to June, because Tesla sales and equity “seem to lose rather than gaining momentum”.
JP Morgan provides for a profit by action of the first quarter by action of 36 cents, compared to its previous estimate of 40 cents per share and the consensus of 46 cents per share of Wall Street. Annual profit is planned at $ 2.30 per share, down compared to a previous forecast which provided for $ 2.35 per share and consensus per share of $ 2.70. Brinkman expects the second quarter sales to reach 404,000, against 462,890 last year.
Tesla’s shares slipped around 30% this year from the closing of the market on Thursday, largely due to the reaction against Musk. After a report confirmed This musk would leave his official government of the government by June at the latest (due to the nature of his appointment of employees), the stock has skyrocketed. He should remain “friend and advisor” in the White House after his official departure, according to Vice-president JD Vance.
Tesla’s stock dropped 5% in pre-commercial exchanges on Friday while the wider market continued to decrease on the back of Trump’s new prices. The 25% prices of the United States on foreign vehicles – and later, the vehicle parts – will affect Tesla, according to Musk and the financial director Vaibhav Taneja.
In a recent letter For the US trade representative (USTR), Tesla said that even with the “aggressive” location of the supply chain, certain parts are “difficult or impossible” source at the national level. Between 60% and 75% of the parts used in Tesla electric vehicles are made in the United States, Although it varies depending on the model.
