24H | Tesla Shares Continue to Fall on Reports Trump Team Plans To Kill Tax Credit

Tiger Newspress11-15

Tesla shares continued to fall 1.5% in overnight trading after a report President-Elect Donald Trump and his transition team are planning to end a $7,500 EV tax credit.

Tesla shares dropped nearly 6% on Thursday, while shares of electric truck maker Rivian plunged over 14%, and Lucid Group shares slid 5%.

President-elect Donald Trump has previously vowed to scale back government support for EVs, though Tesla CEO Elon Musk's ties with Trump have raised doubts about how thoroughly those promises will be carried out.

Reuters reported Tesla told the Trump team it supports ending the subsidy, which could negatively impact Tesla but harm its rivals more.

That may be because Tesla is less reliant on credits than many of its smaller competitors, according to analysts at Wedbush. Tesla’s “unmatched” scale and longer history of making profitable EVs, could give it “a clear competitive advantage in a non-EV subsidy environment,” the firm said.

Removing the subsidy could also harm the EV ambitions of the Big Three Detroit automakers, Ford (F), General Motors (GM), and Stellantis (STLA), if they prioritize their more-profitable gas-powered vehicles.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

6

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1167831721?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-15 10:37","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1167831721","market":"us","top_or_hot":-1,"title":"24H | Tesla Shares Continue to Fall on Reports Trump Team Plans To Kill Tax Credit","media":"Tiger Newspress","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a> shares continued to fall 1.5% in overnight trading after a report President-Elect Donald Trump and his transition team are planning to end a $7,500 EV tax credit.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/13d99a383e426e894e3ff5d6ceaef8d6\" tg-width=\"787\" tg-height=\"619\"/></p><p>Tesla shares dropped nearly 6% on Thursday, while shares of electric truck maker Rivian plunged over 14%, and Lucid Group shares slid 5%. </p><p>President-elect Donald Trump has previously vowed to scale back government support for EVs, though Tesla CEO Elon Musk&#39;s ties with Trump have raised doubts about how thoroughly those promises will be carried out.</p><p><em>Reuters</em> reported Tesla told the Trump team it supports ending the subsidy, which could negatively impact Tesla but harm its rivals more.</p><p>That may be because Tesla is less reliant on credits than many of its smaller competitors, according to analysts at Wedbush. Tesla’s “unmatched” scale and longer history of making profitable EVs, could give it “a clear competitive advantage in a non-EV subsidy environment,” the firm said. </p><p>Removing the subsidy could also harm the EV ambitions of the Big Three Detroit automakers, Ford (F), General Motors (GM), and Stellantis (STLA), if they prioritize their more-profitable gas-powered vehicles.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>24H | Tesla Shares Continue to Fall on Reports Trump Team Plans To Kill Tax Credit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n24H | Tesla Shares Continue to Fall on Reports Trump Team Plans To Kill Tax Credit\n</h2>\n\n<h4 class=\"meta\">\n\n2024-11-15 10:37 北京时间&nbsp;&nbsp;&nbsp;<strong>Tiger Newspress</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla shares continued to fall 1.5% in overnight trading after a report President-Elect Donald Trump and his transition team are planning to end a $7,500 EV tax credit.Tesla shares dropped nearly 6% ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TSLA","symbol_name":"特斯拉","start_time":0,"source_url":"","article_id":"1167831721","we_media_id":"1079075236","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1167831721","pubTimestamp":1731638240,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Tiger Newspress","introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"summary":"$Tesla$ shares continued to fall 1.5% in overnight trading after a report President-Elect Donald Trump and his transition team are planning to end a $7,500 EV tax credit.Tesla shares dropped nearly 6% on Thursday, while shares of electric truck maker Rivian plunged over 14%, and Lucid Group shares slid 5%.President-elect Donald Trump has previously vowed to scale back government support for EVs, though Tesla CEO Elon Musk's ties with Trump have raised doubts about how thoroughly those promises w","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"TSLA":"特斯拉"},"translate_title":"有报道称特朗普团队计划取消税收抵免，24小时特斯拉股价继续下跌","themeId":"ec8c8106492c2faed61983d8d582697e","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TSLA":1.1},"content_text":"Tesla shares continued to fall 1.5% in overnight trading after a report President-Elect Donald Trump and his transition team are planning to end a $7,500 EV tax credit.Tesla shares dropped nearly 6% on Thursday, while shares of electric truck maker Rivian plunged over 14%, and Lucid Group shares slid 5%. President-elect Donald Trump has previously vowed to scale back government support for EVs, though Tesla CEO Elon Musk's ties with Trump have raised doubts about how thoroughly those promises will be carried out.Reuters reported Tesla told the Trump team it supports ending the subsidy, which could negatively impact Tesla but harm its rivals more.That may be because Tesla is less reliant on credits than many of its smaller competitors, according to analysts at Wedbush. Tesla’s “unmatched” scale and longer history of making profitable EVs, could give it “a clear competitive advantage in a non-EV subsidy environment,” the firm said. Removing the subsidy could also harm the EV ambitions of the Big Three Detroit automakers, Ford (F), General Motors (GM), and Stellantis (STLA), if they prioritize their more-profitable gas-powered vehicles.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":6,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1167831721"}