"We are incrementally more cautious on overall Tesla demand. Consistent with our October checks, our latest checks with U.S. sales centers indicate that Model X orders are still lagging expectations. While getting the X to showrooms would help, we don’t expect that to happen until later this spring due to production challenges. Additionally, Tesla’s March-ending Model S promotional offer of 20% off the old lease cost continues, but we do not believe it has driven a noteworthy increase to sales. That the Model S should be benefiting from the lagging Model X underscores our incremental skepticism on overall demand.
Model S may be approaching its run-rate ceiling. Based on historical delivery trends for luxury sedans and SUVs, we think the addressable market for the Model S may already be hitting its run-rate ceiling, underpinning our skepticism around general Model S demand..."
Does Tesla Have a Demand Problem? - Stocks to Watch - Barrons.com
And the bio of the analyst mentioned:
Pacific Crest Securities Brad Erickson
Model S may be approaching its run-rate ceiling. Based on historical delivery trends for luxury sedans and SUVs, we think the addressable market for the Model S may already be hitting its run-rate ceiling, underpinning our skepticism around general Model S demand..."
Does Tesla Have a Demand Problem? - Stocks to Watch - Barrons.com
And the bio of the analyst mentioned:
Pacific Crest Securities Brad Erickson