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They are all not important!

Consider their upgrades forced by current share price to not look too stupid and their underlying thesis is in most cases as it was when they said it has a bear case of $10.

The only reason why it still may matter is because many investors who have no clue still listening to them and buy or sell accordingly and with a few bears now upgrading the public may believe a good opportunity to buy.

So, don't get me wrong I am very bullish for TSLA but never ever think they made their homework and came up with a realistic price target.

Ark Invest did and they are still considered a maverick.

I think you may be confusing Piper Sandler with Morgan Stanley (Adam Jonas). Alex Potter with Piper Sandler seems to be pretty well clued up on Tesla (as per his interview on the Tesla Daily Podcast).

Edited to add: Here's the interview in case someone hasn't yet seen it:

 
@KarenRei did a very credible job on Brazil considering she probably has no special reason to be so thorough.
FWIW, gasoline prices are somewhat more expensive than those averages. As a general rule the average is around US$1,25/liter but that is for 'commun', which is not suitable for high compression modern cars. Most cars run on 'additivada' which averages around US$US$1,55/liter. Both of those are 27% ethanol, so give less fuel economy than does 100% gasoline. Electricity, OTOH usually is cheaper, but varies depending on season and water levels supporting hydrelectric plants, I pay at present US 12.5 cents kWh.

Also, by far the largest two States for autos are Sao Paulo and Rio de Janeiro. Both offer IPVA (annual road tax) reductions for BEV, .5% for RJ vs 7% for ICE. Nearly complete import duty exemption can be achieve by a combination of local assembly and import from duty-free regimes (Mexico, for example). To be specific, if a Model 3 were to be sold at US$60,000 annual road tax would be US$4200 if ICE and US$300 if BEV.

Now for sales volumes. I cannot disclose my source nor hint, but here goes. The 2019 new car sales in Brazil alone were around 2.4 million, lowest in several years. The 'luxury' portion rose to >6% 150,000. The luxury portion is slightly arbitrary because it is not purely brand-specific. BMW, Mercedes-Benz and Audi, for example have their sales distorted by their lowest-spec lines which are below the luxury definition. The luxury class is growing rapidly with Volvo, JLR, Hyundai, Toyota, Mitsubishi, Audi, BMW et al all rapidly repositioning to higher spec vehicles. The change is most evident in leased vehicles where such vehicles as more expensive, less ostentatious models abound. Anyway that market is, at minimum, 150,000 per annum.

Next, major new interest is suddenly appearing for renewable energy. Press reports are now showing large solar plant installations, and panels are now even made in Brazil. My neighborhood now has quite a few solar panels in evidence with outside signage bragging about it. My own don't have signs, but also were installed ten years ago. As that happens press reports about BEV appear every few weeks, mostly positive. Now there is new press reporting about a plan brewing to bring Tesla factory to Brazil. I link to the English translation in Rio Times:

Minister Marcos Pontes Negotiating Tesla's Plant in Brazil | The Rio Times

This is too long. However, some version of a Tilberg-style operation is likely to happen soon , for battery, stationary storage, solar panel, auto or something more. There is far too much opportunity to let it waste, far too little to justify a GF.

I may be wrong. I have been reflecting on our old phrase: "Brazil is the country of tomorrow, and it always will be!"
Fantastic background. Scope though for a smaller car a per the design images from the China design studio?
 
Perhaps this chart would be more informative (ventile = 1/20th).

Income-distribution_US-vs-China-India-world.jpg


Again, to reiterate, this is a graph of income, but the actual relevant parameter is disposable income.

As for the notion that people wouldn't buy expensive cars in Brazil: plenty of people already do. Depends entirely on where in Brazil you are. Or to put it another way: Tesla isn't exactly going to be opening a showroom in Cidade de Deus...

Cidade_de_Deus.jpg


... but they may well in Niterói...

Niter%C3%B3i-Contemporary-Art-Museum-Rio-de-Janeiro-Brazil.jpg
It is remarkably easy to figure out where the money is anywhere, of course it's easier to see where income inequality is more pronounced. Brazil has shopping centers located within every major cluster country-wide. Tesla already follows the identical patterns everywhere else. They'll do that here too.
 
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Despite the popular image of ppor people and carnival we are a bit like China in that the popular image ignores the reality.

I think a lot of people have trouble comprehending that a country can have a ton of poor people, but also a sizeable middle class of reasonable means (even if significantly outnumbered by poor people, and dependent on where you draw the "middle class" line). Generally most people picture countries that have large numbers of people in poverty in a binary - e.g. the "unwashed masses" vs. a tiny "superwealthy elite". The middle class is written out of the story.

And yeah, it's kind of sad that most people's image of Brazil seems to be nothing more than people who spend most of the year begging for food and committing crimes, only to take a couple days off to party at Carnaval. :Þ But such are stereotypes.
 
They are all not important!

Consider their upgrades forced by current share price to not look too stupid and their underlying thesis is in most cases as it was when they said it has a bear case of $10.

The only reason why it still may matter is because many investors who have no clue still listening to them and buy or sell accordingly and with a few bears now upgrading the public may believe a good opportunity to buy.

So, don't get me wrong I am very bullish for TSLA but never ever think they made their homework and came up with a realistic price target.

Ark Invest did and they are still considered a maverick.
You're confusing Alex Potter at Piper with Adam Jonas at Morgan Stanley. Alex has been bullish on Tesla for a long time. He's been somewhat conservative because he admits he doesn't know how to value the Tesla autotomy and solar business. But I think Alex is gaining the confidence because his new price hike mentioned solar as the reason.
 
Fantastic background. Scope though for a smaller car a per the design images from the China design studio?
Not so fast. On my block alone there are plethora of larger cars. That is a single block of single family homes. OMG, but we're supposed to live in slums! The average single family home here has several cars, some of which are large ones. Mostly the volumes are small proportionately as they are almost everywhere in the world.

The smaller ones will sell better because of crowded roads and urban congestion. We have $70000 Toyota Corrollas here and other diminutive but expensive cars, so a very well equipped smaller Tesla will be very popular. Just don't make it cheap and basic. Doing that misunderstands the market.
 
I think a lot of people have trouble comprehending that a country can have a ton of poor people, but also a sizeable middle class of reasonable means (even if significantly outnumbered by poor people, and dependent on where you draw the "middle class" line). Generally most people picture countries that have large numbers of people in poverty in a binary - e.g. the "unwashed masses" vs. a tiny "superwealthy elite". The middle class is written out of the story.

And yeah, it's kind of sad that most people's image of Brazil seems to be nothing more than people who spend most of the year begging for food and committing crimes, only to take a couple days off to party at Carnaval. :Þ But such are stereotypes.
...Carnival starts officially tomorrow. My spouse and I leave the country tonight. The planes are full of escapees and the return flights full of incoming hedonists.
 
In addition to basically everyone outside Green League criticizing its actions against Tesla, also some inside Green League feel that their protest against Tesla lacked both a plan and transparency. As such, the Cottbus group (90 km S of GF4) demands that Green League management steps down:
Grüne Liga on Twitter

PS. Here is another tweet, with (parts of) the letter.
Marcel Münch 马赛 on Twitter
Btw, Cottbus is special, it has a minority with a very small, Slavic language, Sorbian, which probably explains why the letter has some non-German words..
 
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BTW, a last Brazil point. There are surprising pools of engineering talent in several cities and States. There are also some excellent auto suppliers, and a significant aerospace industry. (I admit my bias, my family members have been participants in those sectors.) Despite the popular image of ppor people and carnival we are a bit like China in that the popular image ignores the reality.
Indeed one of the big Brazilian successes is Embraer the airplane company - many US carriers use them for short distances
 
Perhaps this chart would be more informative (ventile = 1/20th).

Income-distribution_US-vs-China-India-world.jpg


Again, to reiterate, this is a graph of income, but the actual relevant parameter is disposable income.

As for the notion that people wouldn't buy expensive cars in Brazil: plenty of people already do. Depends entirely on where in Brazil you are. Or to put it another way: Tesla isn't exactly going to be opening a showroom in Cidade de Deus...

Cidade_de_Deus.jpg


... but they may well in Niterói...

Niter%C3%B3i-Contemporary-Art-Museum-Rio-de-Janeiro-Brazil.jpg

And most of the wealth is in the southern states where the factory would go.
 
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