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☆ Cautious on all Big Three automakers amid pricing and EV headwinds, says Wells Fargo's Langan
  + stars: | 2024-04-23 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCautious on all Big Three automakers amid pricing and EV headwinds, says Wells Fargo's LanganColin Langan, Wells Fargo auto and mobility analyst, joins 'Squawk on the Street' to discuss the analyst's thoughts on General Motors, the expectations coming into this quarter, and more.
Persons: Wells Fargo's Langan Colin Langan, Wells Organizations: Big, headwinds, Motors
☆ Wells Fargo downgrades Tesla, sees electric vehicle stock dropping nearly 30% from here
  + stars: | 2024-03-13 | by ( Fred Imbert | ) www.cnbc.com   time to read: +1 min
Analyst Colin Langan downgraded the electric vehicle maker to underweight from equal weight. We see headwinds from disappointing deliveries & more price cuts, which likely drive negative EPS revisions," Langan wrote. In the wake of [price] cuts are lower lease residuals, disgruntled customers & the possible loss of the luxury brand premium." Tesla shares have struggled in 2024, losing nearly 30%, as demand for electric vehicles wanes. Ford Motor last month said it was reassessing its electric vehicle plans , with CEO Jim Farley noting widespread adoption won't happen until costs are more aligned with gas-powered models.
Persons: Wells, Colin Langan, Langan, Jim Farley, Wells Fargo's Langan Organizations: Elon, EU, China, Ford Motor, General Motors, Honda Locations: Tuesday's
☆ Winners and losers in electric vehicles as Tesla possibly ignites a price war
  + stars: | 2023-01-17 | by ( Michelle Fox | ) www.cnbc.com   time to read: +5 min
Yet Tesla has the upper hand when it comes to being able to afford those price cuts, suggested Jefferies analyst Philippe Houchois. Both Murphy and Wells Fargo's Langan see a more challenging time ahead for Ford and General Motors as a result of Tesla's price cuts. However, Societe Generale believes Tesla price cuts remove some of the mystery that has surrounded it, and could refocus attention on positive moves by legacy automakers. One clear winner from stronger EV demand is auto suppliers, Bank of America's Murphy wrote. 'Torn' on TSLA Analysts were also quick to point out that Tesla's price cuts will no doubt affect its own bottom line.
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