Yahoo Finance's Pras Subramanian looks at Honda and Tesla achieving top spots in the 2022 "Most American-Made Cars" list, in addition to Tesla's production numbers amid recession worries.
SEANA SMITH: Well, Pras, you mentioned Tesla, so I want to bring it up because cars.com just ranked the Tesla Model Y, Model 3. There's some pretty good news here for a company that's been struggling. If you take a look at the stock, it's been struggling as of lately, so some welcome news there.
PRAS SUBRAMANIAN: Yeah, this American Made in America Index that cars.com puts out. So four Teslas was actually in the top 10, right? The Model Y, Model 3 the top two, the Model S and Model X in the top 10. So really dominating that Made in America list, which is, like, kind of how the production of cars affects, like, suppliers and laborers and the companies in the country. But also, there's also four Honda's there, too. So really dominated by Honda and Tesla. And I have to ask, where's GM? Where's Ford? Where's Stellantis? Where are those big three American companies? Where are they, right? It's sort of like my kind of question.
RACHELLE AKUFFO: Now I want to ask you about Elon Musk because he was saying that in terms of the new car factories that he has in Texas and Berlin, that they're actually losing billions of dollars, and they're struggling with production because of some of these shortages, as well as some of these port issues in China. Do you expect that to keep weighing on the company? And does that give some of these other companies room to perhaps start trying to catch up?
PRAS SUBRAMANIAN: We're starting to see Tesla's Q2 production numbers sort of getting kind of knocked on the estimates across Wall Street here. And there's a little bit here, a little bit there. So it's possible that they might see a decent hit. We had a big shutdown in China for them, right? About over a month or so production loss there. So I bet we're going to start seeing that happen to Tesla and other automakers who actually have a production in China, like GM and like Ford as well.