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$特斯拉 (TSLA.US)$這只熊把爪子伸得更深埃隆·馬斯克-以公司為首，尋找弱點。
What To Know: GLJ Research's Gordon Johnson took swipes at Tesla Tuesday morning as the automaker's stock continued to bleed.
要知道的內容：GLJ Research的戈登·約翰遜週二上午，隨著特斯拉股價繼續下跌，特斯拉遭到了猛烈抨擊。
Although most think the weakness in Tesla shares is a direct result of Musk's Twitter takeover, Johnson believes it's fundamental.
儘管大多數人認為特斯拉股價的疲軟是馬斯克收購Twitter的直接結果，但約翰遜認為這是根本原因。
It's just a car company that has built too much capacity they can't sell."
- Johnson said on CNBC's "Squawk Box."
這只是一家汽車公司建立了太多的產能，他們賣不出去。
--約翰遜在CNBC的《Squawk Box》節目中說。
You are talking about a company engaging in margin-slashing price cuts."
你說的是一家正在大幅削減利潤率的公司。
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.
約翰遜表示，僅在本季度，特斯拉就在中國汽車上進行了五次降價，但該公司無法達到銷售預期，這突顯了中國疲軟的銷售數據。
That explains the recent declines in Tesla shares, he said.
他說，這解釋了特斯拉股價最近下跌的原因。
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.
機構投資者只是..。看著這些數據，我認為他們變得非常擔心，因為如果你展望明年，他們的積壓工作正在減少。他們在中國的積壓已經化為烏有。
-約翰遜說。
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.
他告訴CNBC，特斯拉並不能賣出它能生產的所有汽車，這與人們的普遍看法相反。他強調，在第二季度和第三季度，特斯拉的汽車產量都超過了銷量，並補充說，該公司正在再次實現這一目標。
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.
當你看到第四季度的交貨號，更重要的是第一季度的交貨號時，我認為股票將面臨巨大的壓力。
-約翰遜說。
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."
積壓的訂單，大幅削減利潤率，但他們的產能卻賣不出去。對於一家以巨大增長著稱的公司來說，這是一個大問題。
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，競爭對手正在美國以外的市場搶佔特斯拉的飯碗。$比亞迪(ADR) (BYDDY.US)$ 目前中國的汽車銷量超過特斯拉，而$大眾汽車(ADR) (VWAGY.US)$約翰遜說，特斯拉在歐洲的汽車銷量超過了特斯拉。
Whenever competitors come in, Tesla's market share gets decimated."
- he added.
每當競爭對手進入時，特斯拉的市場份額都會遭到重創。
-他補充道。
TSLA Price Action: Tesla has a 52-week high of $402.67 and a 52-week low of $144.17.
特斯拉價格行動：特斯拉的52周高點為402.67美元，52周低點為144.17美元。
The stock was down 8.05% at $137.80 Tuesday.
週二，該股下跌8.05%，至137.80美元。