Morgan Stanley survey of interns shows Tesla ‘cool factor’ is ‘cooling’

Morgan Stanley analyst Adam Jonas reports that the firm’s survey of about 575 Morgan Stanley North American summer interns “provides a window on the preferences of a future generation of business leaders and commercial influencers” and shows that “tastes and preferences in autos are evolving in ways that may surprise those in the industry.” Tesla’s (TSLA) desirability dropped to 11% from 14% year-over-year, behind Mercedes (MBGYY) and BMW (BMWYY), notes the analyst, who says Tesla “cool factor” is “cooling.” In addition, preference for electric vehicles decreased for a second year to 15%, with interns preferring internal combustion engine, or ICE, vehicles to EVs nearly two-to-one, says the analyst, who maintains an Overweight rating and $310 price target on Tesla shares. Other publicly traded automakers include Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Stellantis (STLA), Toyota (TM) and Volkswagen (VWAGY).