Bofa analyst John Murphy has adapted his profit forecast for Tesla. The reason is probably challenges in the announced mass production of the Model Y.
• Bofa analyst lowers profit forecast
• Tesla-CFO expects production losses
• Cost increase possible
According to Bank of America Analyst John Murphy, Tesla is on a long-term growth path. However, short -term challenges have to be overcome. The switch to the new model Y and falling sales prices in particular could burden the electric car manufacturer.
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Model Y change: a risky step
From March 2025, the production of Model Y in all factories is to begin at the same time, as Teslarati reports. According to Tesla CFO Vaibhav Taneja, this is an impressive step, which will result in temporary loss of production: “We are confident that our team can quickly start production, but it is an unprecedented change. Known, which takes the best -selling car in the world and converts all factories at the same time. However, this is compensated for by the high run phase of production, “as Teslarati quotes in this context.
Murphy also has concerns about the planned changeover. He expects up to 100,000 fewer vehicles to be produced. A strategy that, according to the analyst, could be worthwhile in the long term if production is raised as planned.
Further stress factors
In addition to the change in production, Murphy sees other challenges that Tesla will have to deal with. This includes falling average sales prices that could put on sales, attractive leasing and financing offers that could lead to less profit per sold car and incentives and discounts that should be necessary to keep demand high. In this context, the analyst easily reduces its profit forecast for 2025 – from 3.15 to $ 3.05 per share. However, he sticks to his neutral rating with a price target of $ 490.
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Elon Musk’s earlier growth destinations seem to be increasingly back in the background at Tesla. While the company boss had predicted a volume increase of 20 to 30 percent for the year in Q3 2024, Tesla’s current direction was less clearly defined, said Murphy. It should be crucial how quickly Tesla will manage the production change and whether the company can stabilize the margins.
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