Here's How Trump Could Wipe Out 40% of Tesla's Profits After Taking Office, According To JPMorgan Analyst
Here's How Trump Could Wipe Out 40% of Tesla's Profits After Taking Office, According To JPMorgan Analyst
For the first time, Tesla reported a drop in annual vehicle sales, with approximately 1.79 million cars sold in 2024, a slight decrease from the record 1.8 million sales in 2023. The profitability of Tesla Inc. (NASDAQ:TSLA) could be severely impacted under the second Trump administration, with a potential 40% decrease.
特斯拉公司（NASDAQ:TSLA）的盈利能力在特朗普第二任期下可能會受到嚴重影響，預計會下降40%。
What Happened: After a less than stellar Q4 sales performance and a 6% decrease in Tesla's shares, JPMorgan analysts foresee more hurdles in the company's path.
發生了什麼：在第四季度銷售表現不佳和特斯拉股價下降6%之後，摩根大通的分析師們預見到公司面臨更多的挑戰。
The bank's predictions are based on President elect Donald Trump's plans to do away with EV tax credits and subsidies, which have made Tesla's vehicles more affordable to consumers.
該銀行的預測基於當選總統特朗普計劃取消電動車稅收抵免和補貼，這些政策使得特斯拉的汽車對消費者更爲實惠。
For the first time, Tesla reported a drop in annual vehicle sales, with approximately 1.79 million cars sold in 2024, a slight decrease from the record 1.8 million sales in 2023.
特斯拉首次報告年汽車銷量下降，2024年大約售出179萬臺汽車，較2023年的創紀錄的180萬輛略有下降。
This comes in the wake of a broader slowdown in the EV market as consumer preferences shift towards more economical hybrids.
這發生在電動車市場整體放緩的背景下，因爲消費者的偏好正在轉向更經濟的混合動力汽車。
JPMorgan analyst Ryan Brinkman expressed doubt about Tesla's future prospects, stating that the company does not seem poised to dominate the global auto industry during the transition to electrification.
摩根大通分析師瑞安·布林克曼對特斯拉的未來前景表示懷疑，稱該公司在向電氣化過渡期間似乎並不具備主導全球汽車行業的能力。
Also Read: Trump Backs Immigration Visas, Musk Praises His Stance and Says 'Rising Tide Lifts All Boats'
另請閱讀：特朗普支持移民簽證，馬斯克稱讚他的立場，並表示「上升的潮水提升所有船隻」。
"Tesla does not appear to us on track to dominate the global auto industry amidst the electrification transition, which we view as only the starting point for present valuation," Brinkman wrote in a note on Friday and as quoted by Insider.
布林克曼在週五的一份報告中寫道，"特斯拉在電氣化過渡期間似乎並未在主導全球汽車行業的軌道上，我們認爲這只是當前估值的起點。"
Brinkman also contradicted Elon Musk's assertion that the removal of EV subsidies would be beneficial for Tesla. He projected that Tesla could lose around $3.2 billion due to regulatory changes under Trump, as government subsidies constitute a significant part of Tesla's revenue.
布林克曼還反駁了埃隆·馬斯克關於取消電動車補貼將對特斯拉有利的說法。他預測，由於特朗普政府的監管變更，特斯拉可能會損失約32億美元，因爲政府補貼是特斯拉營業收入的重要部分。
"The slowing of deliveries, even ahead of a likely subsidy removal, we think has the potential to refocus investors on the deterioration in deliveries, revenue, gross profit, EBIT, EPS, and FCF estimates across all periods," Brinkman added in the note.
"即使在可能取消補貼之前，交付放緩也可能使投資者再次關注交付、營業收入、毛利潤、EBIT、每股收益和自由現金流預測的惡化，"布林克曼在報告中補充道。
Despite these obstacles, Tesla shares experienced a slight recovery on Friday morning, rising by about 4%.
儘管面臨這些障礙，特斯拉的股價在週五早晨略有回升，上漲約4%。
Why It Matters: The potential elimination of EV tax credits and subsidies under the Trump administration could have a significant impact on Tesla's profitability.
這很重要：特朗普政府可能取消電動車稅收抵免和補貼可能對特斯拉的盈利能力產生重大影響。
These incentives have played a crucial role in making Tesla's vehicles more affordable, thereby driving sales. The shift in consumer preferences towards more affordable hybrids could further exacerbate Tesla's challenges.
這些激勵措施在使特斯拉的汽車更具價格競爭力方面發揮了關鍵作用，從而推動了銷售。消費者對更實惠的混合動力車的偏好轉變可能會進一步加劇特斯拉的挑戰。
The company's ability to navigate these changes and maintain its market position will be crucial in the coming years.
公司在應對這些變化並保持市場地位的能力將在未來幾年至關重要。
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