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Tesla failed to deliver ‘blowout quarter;’ Ford, GM threats

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CNBC’s Jim Cramer expressed on Tuesday some disappointment in Tesla‘s first-quarter earnings report and subsequent conference call.

“I have to be somewhat critical. This was not the blowout quarter,” Cramer said on “Squawk on the Street,” describing the numbers released Monday by the electric vehicle maker as “very good” relative to certain industry peers. He did not specify the companies with which Tesla compared favorably.

However, Cramer said it’s difficult for Tesla CEO Elon Musk to ignore the threat General Motors and Ford now present as the established automotive titans boost their investment in EVs.

GM said earlier this year it plans to stop producing diesel- and gas-powered cars,…



Source cnbc.com

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