Tesla bull Gene Munster of Deepwater Administration believes the corporate will carry forth greater than only a Robotaxi at subsequent week’s unveiling occasion.
He believes there will likely be three new autos unveiled however believes Tesla will maintain the occasion “mild on particulars.”
Munster joined CNBC this morning to debate the occasion after the firm reported it delivered 462,890 automobiles for the third quarter. As deliveries are actually behind us, the Robotaxi unveiling occasion is taking focus.
The analyst mentioned he believes three fashions will likely 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 will likely be “a while off,” which means it can in all probability be a number of years earlier than it’s provided. He additionally mentioned the occasion is anticipated to be extra like a “launch social gathering,” the place CEO Elon Musk will go on stage, speak 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 can roll out, value, and different issues folks actually wish to know, will likely be slim.
Curiously, Gary Black of the Future Fund mentioned simply final week that he felt the $25,000 EV was extra necessary than Robotaxi as a result of gaining market share, giving a direct competitor to ultra-popular reasonably priced autos just like the Toyota Corolla, and rising Tesla’s general presence within the automotive market can be a energy that Wall Avenue would acknowledge.
Munster agrees with the sentiment and mentioned that he’ll be “hyper-focused” on the $25,000 automotive, if Tesla rolls one out:
“The one element that I’m going to hyper-focused on is that cheaper $25,000 automotive, after they anticipate to ramp manufacturing. I need to put one thread by means of why that is necessary for subsequent 12 months, is that the Avenue is on the lookout for development to go from 7 p.c in the newest quarter to 12 p.c subsequent 12 months. To get to 12 p.c, it’s essential to get that cheaper mannequin beginning to ramp in the course of the 12 months.”
Based mostly on Tesla’s previous bulletins for autos and after they really develop into accessible in relation to their announcement, Munster says it’s practical 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 beneath:
🚨 “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 automotive, a robo-van, and a robotaxi.
• @munster_gene highlights that ramping up manufacturing of the $25,000 automotive is… pic.twitter.com/7KUYhLVLXt
— Herbert Ong (@herbertong) October 3, 2024
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