Tesla (NASDAQ: TSLA) gets rid of the premarket season as another prominent analyst expresses concerns at the EV slot.
Loup Ventures analyst Gene Munster says the company lowered its 2019 delivery forecast by 10% to 310k vehicles vs. Tesla's own 360k to 400k unit guidance.
"We are now billed in that Tesla deliveries will be affected by tariffs coming into China. We are a minority perspective because most investors expect Tesla to be exempt from tariffs given the company's investment in Shanghai Gigafactory. Second, will non-tariff factors affecting China's demand include Chinese consumers who boycott Tesla and Chinese officials who add complexity to the delivery process, writes Munster.
Munster says the company still expects Tesla to survive to capitalize on Global EV's growth curve on confidence the cash position of the company after the $ 2.7B increase.
TSLA share price scorecard: -4.65% premarket at $ 1