Tesla (TSLA) reported weaker-than-expected first quarter deliveries and production figures, triggering a selloff in the enterprise’s stock. Barclays Senior Autos Analyst Dan Levy joins Yahoo financial Live to analyze the factors contributing to this decline.
Levy highlights slowing demand in the China and US markets, as well as production units that may have been “left in transit.” This situation could potentially lead to an inventory buildup, necessitating “further price cuts ahead to clear that excess inventory.”
From a fundamental standpoint, Levy says, “there are a couple of challenges that need to be addressed” before Tesla’s stock can experience a turnaround. He highlights volume concerns, which have resulted in flat development, and notes that an inventory buildup could lead to weaker profit margins for the enterprise.
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