Tesla bull Gene Munster of Deepwater Administration believes the corporate will convey forth greater than only a Robotaxi at subsequent week’s unveiling occasion.
He believes there might be three new automobiles unveiled however believes Tesla will preserve the occasion “gentle on particulars.”
Munster joined CNBC this morning to debate the occasion after the firm reported it delivered 462,890 vehicles for the third quarter. As deliveries are actually behind us, the Robotaxi unveiling occasion is taking focus.
The analyst mentioned he believes three fashions might be introduced on the October 10 occasion: a Robovan, a Robotaxi, and the $25,000 EV that buyers have been fascinated about for a number of years.
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Munster mentioned the Robovan might be “a while off,” which means it would most likely be a number of years earlier than it’s provided. He additionally mentioned the occasion is anticipated to be extra like a “launch celebration,” the place CEO Elon Musk will go on stage, discuss at a really excessive degree about what Tesla is doing, how it’s creating the Robotaxi, the way it will function, and what it must be useful, however particulars on when it would roll out, price, and different issues folks actually want to know, might be slim.
Curiously, Gary Black of the Future Fund mentioned simply final week that he felt the $25,000 EV was extra vital than Robotaxi as a result of gaining market share, giving a direct competitor to ultra-popular reasonably priced automobiles just like the Toyota Corolla, and growing Tesla’s general presence within the automotive market can be a power that Wall Avenue would acknowledge.
Munster agrees with the sentiment and mentioned that he’ll be “hyper-focused” on the $25,000 automobile, if Tesla rolls one out:
“The one element that I’m going to hyper-focused on is that cheaper $25,000 automobile, after they anticipate to ramp manufacturing. I wish to put one thread by way of why that is vital for subsequent yr, is that the Avenue is on the lookout for progress to go from 7 p.c in the newest quarter to 12 p.c subsequent yr. To get to 12 p.c, it’s good to get that cheaper mannequin beginning to ramp in the course of the yr.”
Based mostly on Tesla’s previous bulletins for automobiles and after they truly change into obtainable in relation to their announcement, Munster says it’s lifelike to anticipate that automobile in late 2025 or early 2026.
You may take a look at Munster’s full feedback and expectations within the video under:
🚨 “Don’t anticipate many particulars at subsequent week’s Tesla occasion,” says Deepwater’s Gene Munster
• Gene Munster predicts $TSLA will unveil three new fashions: a less expensive automobile, a robo-van, and a robotaxi.
• @munster_gene highlights that ramping up manufacturing of the $25,000 automobile is… pic.twitter.com/7KUYhLVLXt
— Herbert Ong (@herbertong) October 3, 2024
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