Tesla's first-quarter net income plummeted 55% as falling global sales and price cuts sliced into the electric vehicle maker's revenue and profit margins
Tesla said on Tuesday it would introduce "new models" by early 2025 using its current platforms and production lines as it retreated from more ambitious plans to produce an all-new model that had been expected to cost $25,
The company’s shares rose in after-hours trading following news that the EV maker is looking to bring new models to market sooner than previously planned.
Tesla Chief Executive Elon Musk may have given investors what they wanted with promises of a more affordable vehicle coming soon, but those promises may lead to more pain for investors. On Tuesday, Tesla did not specify a price tag for what it is calling an affordable EV,
Tesla has seen its profits more than halve this year, and says it will bring forward the launch of new models as it cuts thousands of jobs to try to reverse its fortunes. The electric vehicle (EV) maker said on Tuesday it had made $1.
Tesla shares surged 11% during premarket trading Wednesday after CEO Elon Musk said the company plans to produce new affordable EV models by early 2025.
Tesla shares powered firmly higher in early Wednesday trading and look set for their strongest session gain in more than a year, after the electric-vehicle producer eased investor concerns about an abrupt strategy shift away from its core carmaking business.
Tesla has seen its profits more than halve this year, and says it will bring forward the launch of new models and cut thousands more jobs to try to reverse its fortunes. The electric vehicle (EV) maker said on Tuesday it had made $1.
Tesla stock would likely have dropped after the Q1 earnings release had the EV maker not announced good news about the launch of more affordable vehicle models.
As Tesla shared its figures for the first quarter on Tuesday, the automaker also previewed the app that it wants to use for its planned robotaxi service. The Latest Tech News, Delivered to Your Inbox
Tesla reported its first quarter adjusted earnings plunged 48%, falling short of lowered Wall Street forecasts, but it assured investors that it plans to move ahead with a cheaper model due out next year.
Tesla’s woes to start 2024 are many and ongoing — but that doesn’t mean the world’s most valuable automaker is stopping. Tesla stock soared as high as 16% in after-hours trading Tuesday, after Elon Musk’s electric vehicle company reported quarterly earnings that revealed a 9% year-over-year revenue decline — its biggest drop since 2012.
Tesla's first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate production of new, more affordable vehicles.
Tesla stocks jumped on Tuesday after Elon Musk promised “more affordable” electric vehicle models following a drop in the company’s revenue in the first quarter by about nine per cent. The company’s revenue dropped to $21.
Tesla's sales are down. It's slashing car prices and laying off staff. Yet CEO Elon Musk remains bullish on a future that's self-driving and battery-powered.
Tesla’s stock soared by more than 11% Wednesday after CEO Elon Musk said the company would accelerate the rollout of more affordable electric vehicles in hopes of boosting sagging profits. Musk’s announcement was aimed at calming nervous investors on Wall Street who were still trying to digest the company’s most recent earnings report,
Tesla also blamed an arson attack at its German plant and factory downtime as it switched factories to an updated version of the Model 3 sedan. Excluding one-time items such as stock-based compensation,
Tesla has long been the king of the electric vehicle market, and EV sales are famously slowing down. But Musk's company has a bigger problem. "EV sales are slowing," The New York Times said. "Tesla's are slumping.