Tesla demand doesn't feel 'fantastic' right now, says Bernstein's Toni Sacconaghi

Toni Sacconaghi, managing director at Bernstein joins 'Squawk on the Street' to discuss his thoughts on Tesla and what is ahead for the company.

[willkathy]

They broke records as the rest of the auto market dropped. Wtf

[juanmedinar]

This dude doesn't know that car loans are 7-6% now vs under 2.5% last year and that almost every company in laying off a significant portion of their work force. It is obvious that is more difficult to sell cars under an economic crisis and is silly to expect the car sector not see a decrease of willing buyer to jump into a new car with the current economic uncertainty. What Tesla did in Q1 the slowest quarter for the industry was amazing. If he is expecting Tesla to keep growing at a crazy even after Armageddon he is out of his mind and he should give the benefit of doubt. So far 2022 Q4 vs 2023 Q1 number of other companies look really ugly compared to Tesla's.

[RogerPerraull-luui]

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[Francisco-tooe]

What happens when price cuts continue but profit margins stays the same or gets better?

[myraalper]

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[abelponce]

At least they are bringing gordon less and less😂😂

[deeppatel]

Here you go competition card again. Legacy has big pockets? They have BIG debt. And 1st qtr is seasonal slow qtr!!

[hchchc]

For every unprofitable battery EV that legacy autos have to sell, it's another profitable ICE vehicle that legacy autos won't sell. How is that good for legacy autos during the ICE to BEV transition?

[davidelet]

with deep pocketed he means they have a ton of debt ...

[mariaanamarcelo]

Interesting perspective from Toni "the forever Tesla Bear"Sacconaghi. How can 423 k in deliveries in the first quarter represent a demand problem in this environment? How many EVs did GM and sell in the last quarter? 16 k ? Did Ford not lose 40% on their EV offerings last year? How about market share in the US, China and Europe ? Tesla gained market share in those markets. GM and Ford are loaded with debt. Tesla has no debt and has a first mover advantage with 27% gross profit margin last year. Which auto company has the pricing power? Toni was visibly suppressing a smile from listening to his ridiculous opinions . Even the the anti Tesla CNBC anchors were pushing back.

[youngtran]

Toni Johnson, do you have a brother name Gordon?

[balanctube]

God I could tear this guy's argument apart bit by bit...

[jimroth]

Ford recently admitted they lose 40 percent on every electric car they sell. This analyst predicts that Tesla will "only" make 20 percent PROFIT on every car it sells. Ford is deeply in dept. Tesla has no debt. Tesla is improving their cars and reducing their manufacturing costs much faster than Ford. Tesla production and sales are way up year over year. Seems to me that Tesla wins big time.

[georgelewis]

FUD - They don’t need to lower prices, they are preparing a low cost vehicle by making a smaller competitive vehicle in Mexico! Why not report that!

[markplott]

CNBC - the MORE cars Tesla sells, the MORE cars Tesla sells. (mic drop).

[jimroth]

"Feelings" are so much more reliable than actual facts.

[falcaofalcao]

Tony wants to short with his manipulation

[timower]

I'm not an expert, and correct me if I'm wrong, but isn't this guy continually contradicting himself as he moves between Tesla and Legacy Auto?

[jeffmorton]

CNBC’s hate narrative would be better served w Gordon as the host.

[maxpayne]

The Tesla bros are not going to like this…