Latest news with #SteveWestly
Bloomberg
23-07-2025
- Automotive
- Bloomberg
Tesla Has The 'Talent But They Do Need More Stability': Westly
Steve Westly, Founder and Managing Partner, The Westly Group, and Former Testa Executive, says Tesla needs to get its top executives in place and new products to market. The company needs a next-generation product with a "wow" factor to return to its former position. He speaks to Scarlet Fu and Vonnie Quinn on "The Close." (Source: Bloomberg)
Yahoo
03-07-2025
- Automotive
- Yahoo
China-Made Tesla Sales Rose in June. Is This the Lifeline TSLA Stock Needed?
Tesla (TSLA) shares are pushing to the upside on Wednesday after data from the China Passenger Car Association confirmed the automaker's sales of China-made electric vehicles increase 0.8% on a year-over-year basis in June. Though modest, the increase is significant given it snapped TSLA's eight-month losing streak in one of its biggest global markets. Despite today's gain, Tesla stock is down 13% versus its high set in the final week of May. Is UnitedHealth Stock a Buy, Sell, or Hold for July 2025? Is MicroStrategy Stock a Buy, Sell, or Hold for July 2025? Circle Just Applied for a Bank Charter. How Should You Play CRCL Stock Here? Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. While China data sure is positive for investors, it's not very likely to help Tesla shares extend gains further since the automaker's overall deliveries for the second quarter came in down 14% year-over-year on Wednesday. The company delivered just 384,122 vehicles in its fiscal Q2, down significantly from 443,956 deliveries in the same quarter last year – reinforcing concerns that TSLA is losing market share to its Chinese rivals. Tesla Inc has recently had a successful launch of robotaxi services in Austin, but it's still reasonable to assume that continued weakness in the core EV business will make it incrementally difficult for TSLA stock to print new highs in the near term. According to Steve Westly, a former member of Tesla's board, the EV maker needs three things to unlock its path to sustainable share price recovery. Tesla must launch a lower-cost ($25,000) model to compete more aggressively with rivals. Tesla needs regulatory approval for its robotaxi in multiple cities to catch up with Waymo. Tesla has to rebrand itself – which means less politics, more products, and lower prices. Westly remains confident that TSLA has the technology to compete across all verticals, but unless it 'finds a higher gear' – this EV stock may continue to fail in delivering the kind of gains that investors have come to expect of it, he told CNBC in an interview today. Investors should note that Wall Street firms are no longer bullish on Tesla stock either. According to Barchart, the consensus rating on TSLA shares currently sits at 'Hold' only with the mean target of about $297 indicating potential downside of some 5% from here. On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
CNBC
20-06-2025
- Automotive
- CNBC
Tesla needs to put on a stunning show, but I'm not sure they're ready, says Steve Westly
Steve Westly, The Westly Group founder, joins 'Money Movers' to discuss Tesla as it prepares to launch its Robotaxi in Austin.
Yahoo
23-04-2025
- Automotive
- Yahoo
TSLA Has Many Problems, But Two Potential Developments Could Get It Back on Course, Veteran Investor Says
Among the tough problems that Tesla (TSLA) is facing are the large decline in its deliveries, its "polarizing brand," and "cheap and growing competition" from China-based EV makers, including the giant automaker, BYD (BYDDY), Steve Westly, the founder and Managing Partner of the Westly Group told Schwab Network yesterday. But TSLA can turn itself around by accomplishing just two goals, Westly asserted. More About TSLA's Issues In addition to the problems identified above, Westly also noted that the automaker did not launch a new product last quarter, while the launch of the new, cheaper version of the company's Model Y has been delayed. Additionally, the company's updated Full Self-Driving tools is "late and not yet approved in Austin, TX," where it has been expected to debut in June. How TSLA Can Turn Itself Around If the automaker can launch its $25,000 car to compete with BYD overseas, it will be "off and running," the investor said. And if TSLA can catch up to Alphabet's (GOOG,GOOGL) Waymo in the self-driving race, Elon Musk's firm will get a sizeable boost, according to Westly. But he added that "those will be two tough hills to climb" for Tesla. While we acknowledge the potential of TSLA, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than TSLA but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires Disclosure: The author owns shares of BYDDY but has no intention of trading them in the next 48 hours. This article is originally published at Insider Monkey.
