Gerber Kawasaki's co-founder Ross Gerber has dismissed the launch of an affordable Tesla Inc. (NASDAQ:TSLA) Model Y trim level as speculation takes over ahead of the October 7 event.
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‘It's Really Sad," Says Ross Gerber
Taking to the social media platform X on Monday, Gerber shared his thoughts in a post following a teaser released by Elon Musk's company. "Please not another model Y thats less good for less money. It’s really sad," Gerber said, expressing his disappointment with the update.
Gary Black's Model Y Criticism, Ross Gerber Warns Of A Difficult Tesla Q4
The comments follow similar lines shared by investors, including Future Fund LLC's managing director, Gary Black, who criticized the decision, saying that a new affordable Model Y does not offer a chance for Tesla to increase its brand leverage or expand TAM (Total Addressable Market) via a new form factor.
Meanwhile, Gerber has warned that Tesla could face a difficult Q4 despite the EV giant's third-quarter deliveries exceeding Wall Street and analyst estimates, as the company delivered more than 497k units during Q3.
Tesla scores well on Momentum and Growth metrics, while offering satisfactory Quality, but poor Value. Tesla also offers a favorable price trend in the Short, Medium and Long term. For more such insights, sign up for Benzinga Edge Stock Rankings today!
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