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ing his price target on Tesla to 350. So you actually raise even though the stock is down and the market's worried about more price cuts. Why? I think investors aren't seeing forests through the trees because ultimately what's happening here, we're seeing a stabilization from a margin perspective, better than expecting terms of auto gross margins.
The value of a $400 Tesla stock from Wednesday. Many people thought that Bush analyst Danis was being too optimistic, but is who had previously called Tesla a golden EV success story. thinks that $400 is possible. In fact, is wrote in a note to clients, Tesla is in a massive position of strength after building its EV castle and is now set to further monetize its success.
This can be seen by the fact that Tesla is becoming more and more able to make money from sources other than EV sales. You look at units right now, I think on a trajectory toward 2 million. And then this is the drum roll, the Super Bowl to now what I believe is monetization of supercharger battery and I think last night the biggest thing from the conference call FSD talking to another OEM because this from an AI perspective is ultimately how I see Tesla getting to a trillion and a half two trillion marketing FSD to another OEM.
I mean he said early days it's never clear we got no clarity on who it is or how far along or whether it may even come to fruition. But ultimately this is for Musk I think ultimately this is really the first step of what's going to be a broader strategy because they've built it. I mean if you look at FSD
full self-driving full self-driving you and I'll argue Sarah that's that's AI. I mean we could talk it's basically AI for automakers you look at full self-driving. You look what happened with superchargers and ultimately now batteries. And I think the story stabilizing from margin perspective, the poker move massively played off from a unit perspective.
And I think that's why this year, I think this is just the start. As of this month, after sales of passenger cars dropped in June and July, the Chinese auto market started to grow again in August. That same month, Tesla almost doubled its market share in the country thanks to lower prices and tax breaks that made the cars more appealing to buyers.
passenger. In August, auto sales in China rose 2.2% year-over-year, according to data from the China Passenger Car Association, CPCA. According to Reuters, Tesla almost doubled its market share in China, going from 7.5% in July to 13.2% in August. The CPCA data showed that Tesla sold 64 65 cars in China in August and delivered 65,316 Model Y cars built in Shanghai during the same month.
Because if you look at the lower prices, sacrificing prices for demand, it paid off, not just in China, in the US. And I think what you're seeing right now with EV play out, you're starting to see this green tidal wave we viewed as the biggest transformation to the auto industry since 1950s. It's Tesla's world.
everyone else is paying rent and I think last night was just another chess move while other automakers sit there playing checkers. What about this the factory potential delay of shipments? That that was something that was flagged on the call. Yeah. And is that a big deal? Yeah. And that's one where and to your point the bit of a down tick production offline from a manufacturing perspective.
See I view that as really this what's going to be the star of a refresh for Model 3s. So, I think that's a smart move because you're going to have refresh of Model 3s, you got Model Y, and then ultimately the Cybert truck within production starts around Halloween. I think we will start to see Cyber Trucks on the road in the month of December.
Giant factory Shanghai sold about 84,000 cars in August, up 31% from the previous month's tally of 64,852 cars, or 6% less than the same month last year. If this trend continues this month, it will be great for the company, its stock, and its shareholders. As competition for EVs in China heats up, Tesla has had to lower the prices of its Model S and Model X cars to boost sales.
The starting price of the Model S dropped from 74,900 Chinese yuan to 6,198 Chinese yuan. And the price of the Model X dropped from 8369 to 738,000 yuan. These are the two models that are already made in Shanghai. This comes 2 weeks after Tesla cut the prices of the premium versions of these two models that aren't built in China.
Tesla also lowered the price of its full self-driving FSD software by $3,000 in the US from $15,000 to $112,000 and by $3,500 in Canada from $19,500 to $16,000. In connection with this, Wed Bush analyst Dan I recently looked at Tesla on a some of the parts SOTP basis. This method looks at and tries to value the different businesses within a company in order to give a better price valuation the stock in another note to investors to learn more about this sue of the parts value.
other OEM stations across the United States that use it and the money they make. In the end, we think Tesla's supercharger business will make up about 3 to 6% of its total sales, which would mean a 10 to 20 billion business by 2030. I was wrote in the note that the supercharger network opening to OEMs is a big part of Tesla's story.
But it's only one part that suggests there are stronger production numbers. A successful energy business that keeps getting better on the side of the growth. Tesla has a strong balance sheet thanks to the growth of autopilot and full self-driving and unmatched battery environment and more production on a large scale.
Tesla's world is the only place where people have to pay rent. I think this is just the beginning of the growth story that we're seeing on the supercharger. eventually what we think will be battery. You look at FSD, that's the golden goose in terms of AI and obviously the Gerber team, Gerber, the team, you know, thought leaders when it comes to TISA and Nicole, I think this is a get out the popcorn moment for how this green title wave is going to play out.
But remember that it's not just going to be Tesla story. There will be many more, including Ford, GMS, and some European players. This $5 trillion green title wave is going to have many winners. Tesla's separate businesses include its supercharging network, which it recently signed deals with several automakers to open up, and its FSD software, which is likely to turn Tesla cars into robot taxis.
In addition, Tesla sells battery storage products to consumers and utilities, a business that grew over 220% year-over-year in Q2. Based on all of this, IEES recommends buying Tesla shares with a price target of $350 per share within the next 12 months, which is a 35% increase from the current price of $258.
However, IES also said that a $400 valuation could happen soon. When asked what could work in Tesla's favor, an expert said that the UAW strikes against the big three automakers could be very good for the company. Ford as a deadline approaches. The possible strike between General Motors and Stellantis continues to be a concern.
Nathan Bowie, an Axos business reporter and co-author of the Axos Closer newsletter, and David Madlin, a senior fellow at the Center for American Progress and senior adviser to the American Worker Project joined Yahoo Finance Live to talk about the strike and how it might affect the auto industry. There's a chance that all three could go on strike at the same time, which would really slow down the auto industry.
Bowie also said that Tesla would be the big winner if there was a big strike. The company would also be the winner if the automakers had to agree to huge pay raises because Tesla isn't unionized. This company has a lot of good things going for it. And it's great that it doesn't have to worry about a strike like Ford and GM do.
Speaking of Ford and GM, Dan IIEES sees their partnership with Tesla as a big way for Tesla to make money. We believe Tesla is in a prime position to further capitalize on the EV transformation taking place as part of the government's plan to reduce carbon emissions to zero by 2050s. Wrote in a note to clients has also said that Tesla is in a massive position of strength after building its EV castle and now is set to further monetize its success pointing to the company's increasing ability to bring in revenue outside of EV sales.
Tesla should net another $3 billion in new revenue from Ford and General Motors EV users estimated is noted that earlier this year Tesla agreed to add 7,500 superchargers to its network by 2024, more than doubling its current capacity of roughly 5,000. He suggests that the increasing number of deals with other automakers will accelerate its growth.
He also noted that Tesla's trailblazing deal to share its Supercharger network with Ford and GM is a money-making opportunity and that its profits are likely to keep rising once it's able to roll out its full self, driving tech more widely. In fact, a long line of rival on automakers have thrown in the towel and agreed to joi was the first company to break with custom.
General Motors quickly followed and Ford and a number of other automakers including Volvo soon followed suit. MercedesBenz and Nissan. Because of this, Tesla will be able to get up to $20 billion from its new deals with Ford for superchargers. General Motors and several other car companies. IES overall says IEES thinks that the best parallel for Tesla is Apple in the late 2000s when the stock price of the iPhone maker didn't yet reflect its earnings potential.
We see Tesla as being similar to Apple in 2008 and 2009 when Certino was just starting to make money off of its services and golden ecosystem. It was IV's research note on Thursday that said, "We see this quarter as a major step in the right direction as Tesla plays chess." While some people play checkers, Tesla is a big winner in the tech stock boom that was made possible by AI.
The market value of Tesla stock has grown by $530 billion this year, making it worth just over $900 billion. If you want to learn more, make sure to subscribe to Tesla Stock.
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