TESLA QUARTERLY SALES
Do Elon Musk's politics and comments on X drive Tesla buyers away? This is what car-owners have said
Has Elon Musk angered the prospective buyers of Tesla by supporting antisemitic posts on his social media platform X or blocking Starlink satellite internet service to prevent a drone attack on Russian forces? The global Tesla sales have come down this year.
Tesla shares rally over 10% as quarterly deliveries beat estimates
Tesla on Tuesday reported a smaller-than-expected 5% drop in vehicle deliveries in the second quarter, as the electric-vehicle maker's price cuts and incentives helped stimulate demand.
Tesla's Q2 deliveries beat estimates on price cuts, incentives
Tesla's delivery drop in Q2 was mitigated by incentives driving demand. Shares rose in premarket trading despite margin pressures. The company delivered various models, including the Model 3 and Model S sedan. Tesla adapted its strategy with discounts globally, aiming to recover from the sales decline and adjust annual growth targets.
Tesla deliveries set to fall for second straight quarter
The company is expected to deliver 438,019 vehicles for the April to June period, according to an average estimate based on forecasts from 12 analysts polled by LSEG, seven of whom slashed their expectations in the past three months. The EV maker is expected to announce the results on Tuesday.
Wall Street ends slightly up, trade choppy ahead of inflation data
Strategic investments like Volkswagen's $5 billion in Rivian signal a shift towards sustainable energy. The market anticipates further developments in the electric vehicle sector. Investors carefully analyze such moves, impacting stock performances and sector trends. The market remains dynamic, responding to key catalysts and economic indicators for future insights.
Tesla vs Tata Motors: Elon Musk's $56 billion salary more than TaMo revenue
Musk's compensation package not only outstrips TaMo but also surpasses the total revenues of other prominent Indian entities, including HPCL, SBI, Rajesh Exports, and TCS
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NCLT directs Byju’s to maintain status quo; ETtech Done Deals
NCLT has asked Byju's to maintain status quo in its shareholding, pausing its controversial rights issue, this and more in today’s ETtech Top 5.
Elon Musk's new problem: Unsold Tesla cars overcrowds parking, satellite imagery shows
Elon Musk's Tesla is currently in a bottleneck situation with its unsold cars situation. According to the recent satellite images revealed, Tesla's car models are simply crowding up the entire parking lot for unsold cars and there seems to be no remedy around it, say reports. This looks like a fresh issue for the business tycoon and his company amid a power struggle within the internal organization.
GameStop soars as 'Roaring Kitty' reveals $116 million bet in Reddit post
It was Gill's first post in three years from his Reddit account, where screenshots of his bullish GameStop trades triggered a rush of demand in 2021 for "meme stocks" - often companies with weak fundamentals that gained a cult-like following through social media hype among retail traders.
Tesla shareholder sues Musk for alleged $7.5 billion insider trading
A Tesla shareholder filed a lawsuit accusing CEO Elon Musk of insider trading by selling over $7.5 billion of Tesla shares before disappointing production numbers were public.
Nasdaq falls 1%; Salesforce shares weigh on tech
Nasdaq dropped due to tech and communication services sector declines, and slower Q1 growth per Commerce Dept. report.
Tesla Europe sales lowest in 15 months
Tesla Inc had a slow start to the second quarter in Europe, with CEO Elon Musk expecting better results. The carmaker registered 13,951 vehicles in April, down 2.3% from last year, its lowest since January 2023.
Tesla doing damage-control, discounts for European fleet buyers
Tesla faces challenges in Europe as repeated price cuts hurt leasing companies' fleets and slow service alienates corporate customers. Tesla is offering unofficial discounts and addressing service complaints, but struggles with falling resale values and competition from Chinese and legacy automakers. Fleet customers demand better service and lower repair costs.
Ford losing $100,000 per every electric vehicle: Report
Ford Motor Co faces losses from electric vehicles, cutting orders and fast-tracking small EVs to compete with Tesla. CEO Jim Farley acknowledges challenges. Tesla, Elon Musk, and CFO John Lawler's comments on pricing pressure and EV costs are key. Ford focuses on hybrids, delays launches, and addresses quality issues.
Jeff Bezos, Mark Zuckerberg lead the way in big tech insider stock sales
Almost a dozen executives and directors at the firms recently boosted their share sales, earning more than $160 million since late 2023 after not cutting their stakes in as long as nine years, according to data compiled by Bloomberg.
Tesla ramps up job cuts in China as sales slowdown bites
Tesla Inc. is escalating job cuts in China to regain market share, with layoffs extending to various departments at its Shanghai plant. The company faces challenges amid a global EV demand slowdown, intense competition, and shrinking market share. Despite layoffs, Tesla secured approval for its driver-assistance system in China.
Mercedes retreats to gas guzzlers as EVs fail to boost profit
Mercedes-Benz Group AG is adjusting its electric-vehicle goals due to weakening sales, opting for combustion engines longer. CEO Ola Källenius cites slower transformation, pledging to make combustion and hybrid vehicles into the 2030s if demand persists. Disappointing electric model orders and lower margins prompt the shift, reflecting wider industry challenges.
Tesla to cut hundreds more jobs in Musk cost push
Tesla plans to implement further job cuts beyond the recent layoff of over 10 percent of its workforce as part of its cost-cutting measures amid challenges in the electric vehicle market, according to a report by US media. Elon Musk, CEO of Tesla, expressed a commitment to stringent headcount and cost reduction in an email, targeting executives who retain staff not meeting high standards.
What is Tesla's Full Self Driving and why its China rollout matters
Tesla CEO Elon Musk made an unannounced visit to Beijing to discuss the rollout of Full Self-Driving (FSD) software and data transfer permissions. Musk met with Premier Li Qiang, sharing a photo on social media. Tesla cleared regulatory hurdles for FSD in China, potentially boosting competition in the auto market. The move could also help Tesla navigate regulatory challenges and declining EV sales, while aligning with China's push for technological innovation and competition in the autonomous driving sector.
Musk's big win in China: Tesla clears data security, full self driving hurdles for locally-made cars
Tesla CEO Elon Musk's surprise visit to China has proven to be a strategic move yielding significant results. Musk secured a key clearance from Chinese authorities, boosting the EV maker's efforts to revive declining sales and regain trust in the Chinese market, where local automakers like BYD challenge Tesla's dominance. Tesla cars produced in China met essential data security and privacy requirements, allowing Musk to progress in gaining approval for driver-assistance software introduction. Furthermore, a reported deal between Tesla and Baidu for mapping services in China hints at further advancements in the company's operations.
Tesla's profit fell 55%, adding to concerns about its strategy
Tesla's Q1 profit plummeted 55% to $1.1B, revenue down 9% to $21.3B. Layoffs of 14,000 employees amid 8.5% sales drop. Musk focuses on autonomous driving, Robotaxi, as share price surged in extended trading.
Tesla shares rise 2.3% ahead of quarterly results
Shares of Tesla edged higher on Tuesday ahead of the electric car maker's first-quarter results, with analysts expecting its lowest gross profit margin in more than six years due to price cuts and slowing demand.
Tesla woos China customers with cheaper cars after Musk defers India visit
Tesla Inc. has reduced vehicle prices in China amidst stiff competition. Tesla had earlier introduced incentives in China to attract consumers, countering competition from BYD. Musk meanwhile deferred his India visit, which was aimed to tap into a new market amid declining sales and stock prices.
Elon Musk's Robotaxi dreams plunge Tesla into chaos
Elon Musk's Tesla Inc. faces a tumultuous year with stock plunges, sales decline, and strategic shifts causing chaos. Musk aims for a robotaxi future, scaling back on a mass-market vehicle. Layoffs and internal upheaval follow as Musk asserts wartime CEO mode. Investors and employees are left questioning Tesla's direction amidst regulatory challenges and an uncertain future.
Tesla's global job cuts hit China sales team, sources say
Tesla is implementing job cuts globally, including in China, its second-largest market after the US. CEO Elon Musk announced in an internal memo that over 10% of the workforce will be laid off due to declining sales and increased competition in the electric vehicle market. Sources indicate that the cuts are affecting various teams, including sales in China, with more than 10% of the sales team reportedly losing their jobs.
Tesla's Sales Drop: A sign that its grip on the EV market is slipping
Tesla faced a sharp decline in quarterly sales, sparking concerns about Elon Musk's leadership as competitors like BYD, Kia, and Hyundai saw increases in electric vehicle sales. The market is shifting, with mainstream buyers possibly put off by Tesla's unconventional design and service issues. The company must address challenges to regain momentum.
Tesla quarterly deliveries fall for first time in nearly 4 years; shares drop 6%
The world's most valuable automaker handed over about 386,810 vehicles in the three months to March 31, down 20.2% from the prior quarter. It produced 433,371 vehicles during the period. Wall Street on average had expected Tesla to deliver 454,200 vehicles, according to 18 analysts polled by Visible Alpha.
Tesla shares skid after China sales fell to the lowest level in over a year
Tesla Share Price: The fall in sales in its key market dimmed the outlook for Tesla's global deliveries, at a time when the top EV maker is battling a decline in demand and rising competition, and is weighed down by a lack of entry-level vehicles and the age of its product line-up.
Tesla Q4 Results: Earnings fall short of analyst estimates as company warns of lower sales growth this year
But excluding one-time items such as the $5.9 billion noncash tax benefit for deferred tax assets, the company made $2.49 billion, or 71 cents per share. That was down 39% from a year ago and short of analyst estimates of 73 cents per share according to FactSet.
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