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Desire for Tesla Drops ‘Significantly’ in Morgan Stanley Survey

Stock Markets Aug 12, 2022 07:25AM ET
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© Reuters Desire for Tesla (TSLA) Drops ‘Significantly’ in Morgan Stanley Survey
 
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By Michael Elkins

Morgan Stanley reiterated an outperform rating and $1150.00 price target on Tesla (NASDAQ:TSLA) following Morgan Stanley’s 4th Annual Intern Survey.

The Survey of ~500 Morgan Stanley interns is a way for investors to peer into the preferences of a future generation of business leaders and commercial influencers. Preference to buy an electric car was flat y/y at 30%, a rate that is roughly equal to Morgan Stanley’s 2030 US EV penetration forecast.

According to the survey, Tesla's desirability amongst the interns fell significantly YoY to 19%, barely ahead of Mercedes (ETR:MBGn) at 17%.

An analyst noted that despite Tesla’s drop in desirability, YTD, Tesla has sold over 50% more vehicles in the US than total BMW US sales. Tesla's YTD market share in the state of California (1H22) is approaching 11% (of all vehicles, hybrid + EV +ICE). Tesla is still the most desirable car brand among interns vs. peers. However, 2022 marks the first year that intern preference for Tesla fell below 30% in 3 years.

Tesla also took a hit as the most trusted for autonomous service, to 35% (compared to 39% last year).

The analyst notes that the survey results may represent the possibility of brand fatigue, as the electric car giant continues to hold an overwhelming share of EV sales and a growing proportion of total auto sales. The results may simply be the product of an unmet desire for alternative electric vehicle options.

TSLA is trading up 0.98% in pre-market at the time of this posting.

Desire for Tesla Drops ‘Significantly’ in Morgan Stanley Survey
 

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Comments (4)
Oluwafisayo Aknlosotu
Oluwafisayo Aknlosotu Aug 12, 2022 3:40PM ET
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Stock manipulation
Jeff Matthews
Jeff Matthews Aug 12, 2022 12:58PM ET
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The newer models are too tall and look chumpy.
Chinwart on youtube
Chinwart on youtube Aug 12, 2022 8:14AM ET
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Tesla is miles ahead of anyone else and the gap will only get bigger. Underestimate as much as you like. I’m buying with every spare cent.
wan ashrizah wan omar
wan ashrizah wan omar Aug 12, 2022 8:14AM ET
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absolutely agree
hsu mel
hsu mel Aug 12, 2022 8:14AM ET
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but tesla burn like a flame thrower, that's from newspapers... lithium batteries can not be trusted. I am waiting for solid state battery.
gab nea
gab nea Aug 12, 2022 7:51AM ET
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it's not the tesla cars , it's elon musk himself! turns people off with his public business style. he should pay more attention to self driving and battery fires. and oh stay out of politics!
Chinwart on youtube
Chinwart on youtube Aug 12, 2022 7:51AM ET
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He may turn you off but the vast majority of people appreciate a CEO that can be himself and isn’t afraid of being transparent. 103 million followers on twitter shows he’s well liked. Anything he touches will be a success. Underestimate him and any company he creates at your own peril.
 
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