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CarMax, Inc. (KMX) - free report >>
Tesla, Inc. (TSLA) - free report >>
Will Slashing Tesla Prices Slash Earnings?
Hey everybody, Dave Bartosiak with Trending Stocks at Zacks.com. You don’t have to go to CarMax (KMX - Free Report) to realize that used car prices have been coming crashing down to Earth. Rates are on the rise, pinching car dealers at the other end of the spectrum as well. Seeing the challenges to the landscape, EV manufacturer Tesla (TSLA - Free Report) has been aggressively slashing prices on its new vehicles. The Model S and Model X now start at 90k and 100k in the us. The Plaid versions of both cars are now $26k and $29k less than they were selling at in early January. Elon Musk claims he’s reducing the prices a little bit to induce a large impact on demand.
Tesla has a unique advantage over traditional manufacturers when it comes to pricing. Other dealers get an MSRP from the manufacturer, which are just that, the manufacturer’s suggested retail prices. Then the dealer can decide they’re gonna bang you up for $30k over MSRP. All the new Teslas out there come from a factory-owned store.
Let’s take a look at Zacks.com and see which auto manufacturers have the strongest earnings trends. These companies include Nikola (NKLA - Free Report) and Blue Bird (BLBD - Free Report) .
Every time you share this video, somebody gets a great deal on a new car. Subscribe to the YouTube channel, Twitter @bartosiastics, and be sure to check out Zacks.com/promo for this week’s deal on Stocks Under $10. I’m Dave Bartosiak with Trending Stocks and I’ll see you next time.