Tesla's Market Share 'Decimated,' Backlog Has 'Collapsed To Nothing' — Why Institutional Investors Are 'Very Concerned'
Tesla's Market Share 'Decimated,' Backlog Has 'Collapsed To Nothing' — Why Institutional Investors Are 'Very Concerned'
A notorious $Tesla (TSLA.US)$ bear is digging his claws deeper into the Elon Musk-led company, scavenging for weakness.
臭名昭著的$特斯拉 (TSLA.US)$这只熊把爪子伸得更深埃隆·马斯克-以公司为首，寻找弱点。
What To Know: GLJ Research's Gordon Johnson took swipes at Tesla Tuesday morning as the automaker's stock continued to bleed.
要知道的内容：GLJ Research的戈登·约翰逊周二上午，随着特斯拉股价继续下跌，特斯拉遭到了猛烈抨击。
Although most think the weakness in Tesla shares is a direct result of Musk's Twitter takeover, Johnson believes it's fundamental.
尽管大多数人认为特斯拉股价的疲软是马斯克收购Twitter的直接结果，但约翰逊认为这是根本原因。
It's just a car company that has built too much capacity they can't sell."
- Johnson said on CNBC's "Squawk Box."
这只是一家汽车公司建立了太多的产能，他们卖不出去。
--约翰逊在CNBC的《Squawk Box》节目中说。
You are talking about a company engaging in margin-slashing price cuts."
你说的是一家正在大幅削减利润率的公司。
Tesla has issued five price cuts in China in the current quarter alone, yet the company is unable to meet sales expectations, Johnson said, highlighting weak sales numbers out of China.
约翰逊表示，仅在本季度，特斯拉就在中国汽车上进行了五次降价，但该公司无法达到销售预期，这突显了中国疲软的销售数据。
That explains the recent declines in Tesla shares, he said.
他说，这解释了特斯拉股价最近下跌的原因。
Institutional investors are simply ... looking at this data and I think they are becoming very concerned because if you look to next year, they are running down their backlog. Their backlog in China has collapsed to nothing."
- Johnson said.
机构投资者只是..。看着这些数据，我认为他们变得非常担心，因为如果你展望明年，他们的积压工作正在减少。他们在中国的积压已经化为乌有。
-约翰逊说。
He told CNBC that Tesla isn't able to sell all of the cars it can make, contrary to popular belief. In both the second and third quarters, Tesla produced more cars than it sold, he stressed, adding it's on pace to do so again.
他告诉CNBC，特斯拉并不能卖出它能生产的所有汽车，这与人们的普遍看法相反。他强调，在第二季度和第三季度，特斯拉的汽车产量都超过了销量，并补充说，该公司正在再次实现这一目标。
When you see the Q4 delivery numbers and you see, more importantly, the Q1 delivery numbers, I think the stock is going to come under tremendous pressure."
- Johnson said.
当你看到第四季度的交货号，更重要的是第一季度的交货号时，我认为股票将面临巨大的压力。
-约翰逊说。
Backlog down, margin-slashing price cuts, yet they can't sell out their capacity. That's a big problem for a company valued for tremendous growth."
积压的订单，大幅削减利润率，但他们的产能却卖不出去。对于一家以巨大增长著称的公司来说，这是一个大问题。
On top of all of this, competitors are eating Tesla's lunch in markets outside the U.S. $BYD Company ADR (BYDDY.US)$ currently sells more cars in China than Tesla, while $VOLKSWAGEN A G (VWAGY.US)$ sells more vehicles than Tesla in Europe, Johnson said.
最重要的是，竞争对手正在美国以外的市场抢占特斯拉的饭碗。$比亚迪(ADR) (BYDDY.US)$ 目前中国的汽车销量超过特斯拉，而$大众汽车(ADR) (VWAGY.US)$约翰逊说，特斯拉在欧洲的汽车销量超过了特斯拉。
Whenever competitors come in, Tesla's market share gets decimated."
- he added.
每当竞争对手进入时，特斯拉的市场份额都会遭到重创。
-他补充道。
TSLA Price Action: Tesla has a 52-week high of $402.67 and a 52-week low of $144.17.
特斯拉价格行动：特斯拉的52周高点为402.67美元，52周低点为144.17美元。
The stock was down 8.05% at $137.80 Tuesday.
周二，该股下跌8.05%，至137.80美元。