Latest news with #Cybertruck
Miami Herald
6 hours ago
- Automotive
- Miami Herald
Veteran Tesla analyst makes boldest robotaxi call yet
The closer we get to Tesla's (TSLA) robotaxi debut on Sunday, the hotter things get. Though it's been patchy, Tesla bulls would argue we're finally getting close to what could be a watershed moment for the business. Don't miss the move: Subscribe to TheStreet's free daily newsletter Analysts have been talking up Tesla's self-driving game for a while. Few have built a serious reputation on bold, on-point calls. Now, one veteran bull just upped the ante on the robotaxi event, calling this the potential start of Tesla's "golden era of autonomous." Truth be told, Tesla's robotaxi rollout turned out bumpier than expected. Related: Tesla robotaxi launch hits major speed bump After Tesla's maverick CEO, Elon Musk, teased an Austin debut in May, things have proven rather rocky. Just yesterday, a band of seven Texas lawmakers called on the EV giant to pump the brakes on its trials until September's tougher AV rules to kick in. Then there's the safety concern, which adds another layer to the dynamic. In mid-June, a Cybertruck prototype drifted into oncoming traffic while on FSD. Days later, a Tesla Model 3 stalled on train tracks, getting clipped in the process. These hurdles and fresh incidents suggest the vision-only autonomy might still be brittle. Meanwhile, Tesla's robotaxi competition in the likes of Waymo and Cruise continues chugging along in geofenced zones. These companies have taken a more cautious route with safety drivers and slow expansions. Tesla, on the other hand, appears to be going full throttle, relying heavily on its massive owner fleet and Musk's no-brakes style. For now, though, hiccups have weighed down Tesla's stock price, which has settled back into the low $320s. More Tesla Stock News: Tesla robotaxi launch hits major speed bumpMusk's AI chatbot weighs in on Tesla stock and RobotaxiSpaceX faces a surprising rival Tesla is already battling Nevertheless, Tesla has repeatedly proved the naysayers wrong, and it's operating in what could become a multi-billion-dollar market. Grand View Research estimates the global robotaxi market at $1.95 billion last year, potentially soaring to $43.76 billion by 2030 (a staggering 73.5% CAGR from 2025). In an X post today, the veteran tech analyst deemed Sunday's robotaxi rollout in Austin "the golden era of autonomous" for Tesla. Related: Journalists are 'killing people' by turning them against autonomous cars, Musk said He feels this chapter could be the biggest in Tesla's rich history, tipping its AI roadmap as a potential $1 trillion valuation boost over the coming years. To put things in perspective, that's double the stock's current worth at around $1.1 trillion. Ives sees the event as a high-stakes test of autonomy at scale. If the technology can effectively live up to the hype, investors could be looking at a paradigm shift in both ride-hailing and Tesla's market positioning. Even though the initial fleet may seem relatively modest (20 Model Ys), Ives believes a quick ramp to some 25 U.S. cities over the next year is possible. Moreover, he lauded Tesla's unmatched scale, including its massive fleet, global footprint, and deep data trove. Also, beyond operating its network, Ives feels Tesla could license its Full Self-Driving stack to traditional automotive players, opening up a huge, long-term revenue stream. Sure, there are likely to be some speed bumps. These include tricky regs, politics, and a race towards full autonomy. However, Ives still sees Tesla as having the competitive edge due to its software muscle, hardware control, and deep pockets. It's important to note that Dan Ives has been a Tesla bull for years, even through the rough patches. He's voiced his support for the stock, stating that his "longstanding bull view of Tesla remains". Wedbush maintains an 'Outperform' rating on Tesla stock with a lofty price target of $500. This target represents a whopping 55% upside to the stock's current price, which is hovering near the $321.3 mark. Related: Circle stock goes parabolic after Capitol Hill surprise The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
8 hours ago
- Automotive
- Yahoo
The clock is ticking on Tesla's mysterious new cheaper models
Fans and investors are still in the dark about Tesla's mysterious new "affordable" EVs. Tesla said new models would start production in the first half of 2025, but it has yet to reveal any details. Tesla faces slow sales and fierce competition, with analysts saying its fundamentals are worse than expected. Tesla is gearing up to finally launch its robotaxi service, but the company is drawing close to another equally important deadline. As Elon Musk gets set to begin offering robotaxi rides to a select group of invitees in Austin this weekend, Tesla fans are still waiting for news about the company's long-awaited low-cost electric cars. In January, Tesla said that it would start production on new models, "including more affordable models," in the first half of 2025. In the automaker's earnings in April, Tesla reiterated this timeline, with Vice President of Vehicle Engineering Lars Moravy saying the company was working through "last-minute issues" on the new cars. That deadline is fast approaching, and there is little sign that Tesla is gearing up for a major product launch. Tesla did not immediately respond to a request for comment from Business Insider. The stakes for the EV giant are high. Tesla has seen its sales collapse across the globe so far this year, as it grapples with consumer backlash over CEO Musk's politics and production disruptions due to a refresh of its best-selling Model Y EV. Analysts previously told Business Insider that Tesla's stale product lineup is not helping matters. The carmaker has not launched a new vehicle since the Cybertruck in 2023, and the angular pickup's sales have been underwhelming. Even as Tesla's product lineup has stagnated, its rivals have launched a flurry of new electric models. Much of this competition has come from China, where a brutally competitive EV market has pushed Chinese companies like BYD to launch new models at rock-bottom prices. Data from industry group EV Volumes found that although Tesla's Model Y and 3 were still the top-selling electric cars in the world in the first four months of the year, their sales are coming under pressure from BYD's Seagull and the Wuling Mini, two affordable, compact city cars that sell for the equivalent of less than $10,000 in China. Some analysts have already begun to sound the alarm bells. In a note this week, Wells Fargo analysts Colin Langan and Kosta Tasoulis said that Tesla's business fundamentals were worse than expected, with deliveries failing to recover in the second quarter. The analysts also warned that the recent Senate ruling to end California's zero-emission rules would remove the need for automakers to buy regulatory credits from Tesla, which they estimated could cut Tesla's earnings before tax and interest by as much as 16%. Langan and Tasoulis said demand for the refreshed Model Y, which Tesla began rolling out earlier this year, "appears weak," adding that the mysterious affordable models were the only apparent driver of sales in the second half of the year. Despite their importance, it's still unclear what the new models hinted at by Tesla will look like. Tesla has said they will be produced on the same manufacturing lines as its current vehicles and will use aspects of the same platform. Reuters has reported that the new models will include a stripped-down version of the Model Y, production of which has been delayed by several months, according to anonymous sources. For now, it seems Musk and Tesla are mostly focused on the 10 or so robotaxis set to launch in Austin, leaving a major question mark over the rest of the company's product roadmap. Read the original article on Business Insider Sign in to access your portfolio
Yahoo
11 hours ago
- Automotive
- Yahoo
Dear Tesla Stock Fans, Mark Your Calendars for June 30
Tesla (TSLA) shares are in focus following reports the electric vehicle maker plans on temporarily suspending production of its Cybertruck and Model Y at its Austin factory. According to Business Insider, the company will pause production on June 30 and will resume it in the following week. TSLA will use that time to perform maintenance on production lines that it believes will help accelerate production in the second half of 2025. 3 ETFs with Dividend Yields of 12% or Higher for Your Income Portfolio Nvidia Is Quickly Approaching a New Record High. Is It Too Late to Buy NVDA Stock? Unusually Active Put Options Signal Long Straddle Opportunity After Zoetis Downgrade Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Including today's price action, Tesla stock is up some 54% versus its year-to-date low set on April 8. While the temporary production shutdown announced sounds concerning at first, it could be a precursor to something positive for TSLA shares. Tesla has framed the pause as part of a broader effort to enhance manufacturing efficiency, which is particularly important for the Cybertruck given it's faced a slower-than-expected production ramp since its launch. Any sign that the EV maker is preparing to increase output, especially for its high-margin vehicles, could boost investor sentiment and revenue expectations for the back half of this year. Together, this could drive the Tesla stock price up further in the months ahead. Despite a notable rally in the EV stock since early April, Cantor Fitzgerald analysts led by Andres Sheppard remain fully convinced that TSLA is not out of juice just yet. Sheppard expects the automaker's expected launch of robotaxi services in Austin this weekend to unlock significant further upside in Tesla shares. Note that the Nasdaq-listed firm plans on rolling out a 'Cybercab' without a steering wheel in 2026 as well. Additionally, the company's work on its Optimus humanoid robot that is scheduled for customer deliveries in 2027 offers another compelling reason to own TSLA stock for the long term, the analyst concluded. Sheppard currently has a $355 price target on Tesla, indicating potential upside of roughly 10%. Other Wall Street analysts have dialed down expectations for Tesla stock in 2025. The consensus rating on TSLA currently sits at 'Hold' only with the mean target of about $292 indicating potential downside of 10% from here. On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
14 hours ago
- Automotive
- Business Insider
The clock is ticking on Tesla's mysterious new cheaper models
Tesla is gearing up to finally launch its robotaxi service, but the company is drawing close to another equally important deadline. As Elon Musk gets set to begin offering robotaxi rides to a select group of invitees in Austin this weekend, Tesla fans are still waiting for news about the company's long-awaited low-cost electric cars. In January, Tesla said that it would start production on new models, "including more affordable models," in the first half of 2025. In the automaker's earnings in April, Tesla reiterated this timeline, with Vice President of Vehicle Engineering Lars Moravy saying the company was working through "last-minute issues" on the new cars. That deadline is fast approaching, and there is little sign that Tesla is gearing up for a major product launch. The stakes for the EV giant are high. Tesla has seen its sales collapse across the globe so far this year, as it grapples with consumer backlash over CEO Musk's politics and production disruptions due to a refresh of its best-selling Model Y EV. Analysts previously told Business Insider that Tesla's stale product lineup is not helping matters. The carmaker has not launched a new vehicle since the Cybertruck in 2023, and the angular pickup's sales have been underwhelming. Even as Tesla's product lineup has stagnated, its rivals have launched a flurry of new electric models. Much of this competition has come from China, where a brutally competitive EV market has pushed Chinese companies like BYD to launch new models at rock-bottom prices. Data from industry group EV Volumes found that although Tesla's Model Y and 3 were still the top-selling electric cars in the world in the first four months of the year, their sales are coming under pressure from BYD's Seagull and the Wuling Mini, two affordable, compact city cars that sell for the equivalent of less than $10,000 in China. Fears grow over fundamentals Some analysts have already begun to sound the alarm bells. In a note this week, Wells Fargo analysts Colin Langan and Kosta Tasoulis said that Tesla's business fundamentals were worse than expected, with deliveries failing to recover in the second quarter. The analysts also warned that the recent Senate ruling to end California's zero-emission rules would remove the need for automakers to buy regulatory credits from Tesla, which they estimated could cut Tesla's earnings before tax and interest by as much as 16%. Langan and Tasoulis said demand for the refreshed Model Y, which Tesla began rolling out earlier this year, "appears weak," adding that the mysterious affordable models were the only apparent driver of sales in the second half of the year. Despite their importance, it's still unclear what the new models hinted at by Tesla will look like. Tesla has said they will be produced on the same manufacturing lines as its current vehicles and will use aspects of the same platform. Reuters has reported that the new models will include a stripped-down version of the Model Y, production of which has been delayed by several months, according to anonymous sources. For now, it seems Musk and Tesla are mostly focused on the 10 or so robotaxis set to launch in Austin, leaving a major question mark over the rest of the company's product roadmap.
Yahoo
15 hours ago
- Automotive
- Yahoo
Tesla Stock Plummets as Company Abruptly Halts Production of Cybertruck and Model Y
Tesla is pausing production of the Cybertruck and its newly-retooled Model Y, and the stock market is already responding. On the heels of a new Business Insider report about the production shutdown, which is purportedly slated for the week of June 30 based on insider interviews, the company's stock fell to about $316, which was almost four percent lower than it was at the start of the day. To make matters worse, Tesla stock was already sliding thanks to CEO Elon Musk's Robotaxi pilot being pushed yet again. While Tesla's stock fortunes are still up from June 5's massive 14 percent drop to $273 — coinciding, of course, with Musk's explosive feud with president Donald Trump — there's been yet another dramatic dropoff as the multi-hyphenate CEO moves from one crisis to another. With Tesla sales already depressed thanks to Musk's politicking, the new Model Y and the Robotaxi launch were supposed to bring the electric carmaker back from the brink. Instead, these dueling crises are proving to be yet another example of Musk over-promising and under-delivering. As BI notes, this is the third time this year alone that Cybertruck production has been shut down as the geometric lemon proves not only to be a beacon for anti-Musk protesters to take out their frustrations, but also to be a pretty crappy car in general. Though production pauses are par for the course in the automotive world at large, four Austin Gigafactory employees told BI that they were pretty rare at Tesla — until recently, that is. Now that the Cybertruck and Model Y lines are down at Gigafactory, all eyes will be on Robotaxi — and given that its launch date was pushed once this month already, things aren't looking great for Tesla on that front either. More on Tesla trouble: Old Video Shows Elon Musk Saying That What Tesla's Launching This Month Wouldn't Count as Full Self-Driving Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
