President-elect Donald Trump’s proposed tariff policy has raised investor concerns about its potential impact on industries, including electric vehicles (EVs), particularly for companies like Tesla (TSLA). Stifel NextGen transport analyst Stephen Gengaro joins Market Domination to share his perspective on the EV maker amid tariff uncertainties.
Gengaro suggests that Trump’s proposed tariff policy would have “wide-ranging” effects, including reduced competition in US markets — a development that could be “theoretically a positive” for Tesla. However, he cautions that the company may face challenges with its international supply chain for parts sourced outside the US.
The analyst emphasizes that Tesla is “more than a car company,” pointing to initiatives like full self-driving (FSD) technology as “a huge value driver” for the stock in the “medium-to-long term.” He suggests that the potential of these ventures makes the current stock valuation appear “discounted.”
Looking ahead to the Trump administration, Gengaro anticipates more favorable regulations that could accelerate Tesla’s initiatives. “As far as Musk betting on Trump, I think he’s clearly engaged in the conversation as far as getting regulation accelerated on the FSD side,” he explains. “And that sort of opens the door for just various growth opportunities for the company over time.”
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