Tesla could shed more than 40% if it's overtaken as the leader in electronic vehicles, Credit Suisse says
The car "should provide a more compelling alternative at the Model 3 price range than the other comps, especially given the performance focus," Levy wrote. Ford's Mach-E is expected to price in the "mass luxury" range, starting between $40,000 and $50,000, and have a 300 mile range, according to the note.
If sales of Ford's new Mach-E are successful, it could erode some of Tesla's hold on nearly 80% of the US electric-vehicle market share, according to the report. "The launch marks the first real milestone in Ford's increased emphasis in electrification, and more importantly marks an increased effort by the legacy US automakers to be relevant in electrification," Levy wrote.
Shares of Tesla were up roughly 1.24% at 1:30 pm in New York City. Tesla has a consensus price target of $273.38 and 11 "buy" ratings, nine "hold" ratings, and 16 "sell" ratings, according to Bloomberg data.
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