Morgan Stanley automotive analyst Adam Jonas thinks that the growing number of Teslas on the road could negatively impact new-car demand. While more cars “is a form of free advertising, there may be a simultaneous price to pay in terms of eroding scarcity value.”
Tesla stock has struggled in 2019. Shares are down 28% year to date, far worse than the 10% gain of the Dow Jones Industrial Average.
On Friday, Morgan Stanley automotive analyst Adam Jonas highlighted another risk for the electric-vehicle maker—used Teslas. Jonas thinks there may be too many Teslas driving around, a fact that could be hurting new-vehicle demand.
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