{"id":20493,"date":"2023-09-19T09:43:18","date_gmt":"2023-09-19T09:43:18","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/teslas-price-cuts-might-not-be-over-its-bad-news-for-margins-goldman-says\/"},"modified":"2023-09-19T09:43:19","modified_gmt":"2023-09-19T09:43:19","slug":"teslas-price-cuts-might-not-be-over-its-bad-news-for-margins-goldman-says","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=20493","title":{"rendered":"Tesla’s Price Cuts Might Not Be Over. It\u2019s Bad News for Margins, Goldman Says."},"content":{"rendered":"
\n
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Tesla shares have more than doubled this year so far.<\/h4>\n


\n William West\/AFP via Getty Images
\n <\/span>
\n <\/figcaption><\/figure>\n<\/p><\/div>\n

Tesla has been putting pressure on the entire electric-vehicle industry with the series of price cuts it has rolled out this year. The EV maker could continue its campaign next year, which would continue to hurt its margins, according to analysts at
\n Goldman Sachs.<\/span>
\n \u00a0<\/p>\n

\n Tesla\u2019s<\/span>
\n (ticker: TSLA) price cuts for its Model S and Model X vehicles will take a toll this year, according to Goldman\u2019s Mark Delaney. The reductions will only be partially offset by higher prices for the Model 3, resulting in lower average selling prices across Tesla\u2019s range and therefore gross margins, Delaney wrote in a research note.\u00a0<\/p>\n

\n

\u201cWe believe that Tesla could further lower prices in 2024 to support higher volumes which we believe will mitigate the earnings per share benefit from cost reductions,\u201d Delaney wrote.\u00a0<\/p>\n

Goldman\u2019s analysts lowered their forecast for the EV maker\u2019s earnings per share, including stock-based compensation, to $2.90 this year from $3.00 previously. They lowered their 2024 EPS forecast to $4.15 from $4.25.\u00a0<\/p>\n

Goldman\u2019s forecast for this year is broadly in line with the consensus call for $2.89 among analysts tracked by
\n FactSet.<\/span>
\n Its forecast for 2024 compares with the consensus estimate of $4.50.\u00a0<\/p>\n

Tesla is still set to deliver around 2.3 million vehicles in 2024, according to Delaney. That is in line with Wall Street estimates and would be up from an expected 1.8 million deliveries this year. <\/p>\n

Delaney kept a Neutral rating on the stock with a 12-month target price of $275. Tesla shares were down 2.5% at $267.51 in early trading on Monday. They have more than doubled so far this year.\u00a0<\/p>\n

Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Tesla shares have more than doubled this year so far. William West\/AFP via Getty Images Tesla has been putting pressure on the entire electric-vehicle industry with the series of price cuts it has rolled out this year. The EV maker could continue its campaign next year, which would continue to hurt its margins, according to<\/p>\n","protected":false},"author":1,"featured_media":20494,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-20493","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nTesla's Price Cuts Might Not Be Over. It\u2019s Bad News for Margins, Goldman Says. | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Tesla shares have more than doubled this year so far. 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