Tesla
2024 - 7 - 24Tesla's Profit Takes a Dive – Is It Time for a U-Turn? 🚗💸
Tesla Earnings -- Tesla stock electric vehicles - Elon Musk - EV competition - profit margins - robotaxi - Shanghai export hub - stock market - Tesla - Tesla Earnings - Tesla stockTesla’s recent profit margins are the worst they’ve been in five years! Find out how price cuts and competition are changing the game for Elon Musk and the EV giant! 🔋⚡
Tesla, the electric vehicle behemoth that has been synonymous with innovation, is facing a storm of challenges this year. It recently reported its worst profit margins in five years, with the company's CEO, Elon Musk, attributing the downturn to a 'bit of a hangover' from aggressive discounting by rivals. In a bid to stay competitive in the ever-growing EV sector, Tesla has slashed prices and offered incentives, leading to a year-on-year profit drop for the fourth consecutive quarter.
The results paint a stark picture: Tesla's profit plunged over 40% compared to last year, underlining the pressures from not just market competition but also from tariffs impacting its main export hub in Shanghai. As sluggish demand continues, Wall Street analysts are left scratching their heads, struggling to reconcile better-than-expected sales figures with disappointing profit margins. In contrast, shares fell sharply as investors react warily to news that the much-anticipated 'robotaxi' service has been delayed, further contributing to the wavering confidence in the brand.
Despite these hurdles, Tesla has ambitious plans for the future, promising to roll out more affordable vehicle options by the first half of 2025. The company aims to boost production while continuing to innovate, even amidst this challenging landscape. However, with profit margins getting hammered, questions are being raised about the sustainability of Tesla's rapid growth model. Can a brand renowned for its forward-thinking approach pivot fast enough to keep investors on board?
In an interesting twist, Musk remains bullish on the electric vehicle industry's long-term prospects, emphasizing that these challenges are merely 'short-term.' Meanwhile, Tesla's adjustments reflect broader trends in the automotive market, where consumers are seeking more cost-effective options. Interestingly, did you know that Tesla still leads the EV market despite these dips, with a remarkable global presence? And as a fun fact, the company is also working on a revolutionary autonomous fleet that could transform the entire driving experience – if only they’d get it on the road! Buckle up, folks – the ride is just getting started!
Tesla profit margins worst in five years as price cuts, incentives ... (The Straits Times)
It said it was on track to produce new vehicles, including more affordable models, in the first half of 2025. Read more at straitstimes.com.
Tesla's main export hub in Shanghai reels from EU tariffs, weak EV ... (Nikkei Asia)
PALO ALTO, California -- Tesla reported a fourth straight year-on-year quarterly profit drop on Tuesday as the U.S. electric-vehicle maker faces weake.
Tesla earnings nearly halved as price cuts put pressure on profits (The Guardian)
CEO Elon Musk blames 'bit of a hangover' from rivals' discounting but insists challenges are 'fairly short-term'
Tesla misses profit estimates as Elon Musk delays 'robotaxi' launch (Financial Times)
Shares fall despite CEO's claim that plans for 'autonomous fleet' will transform its market value.
Tesla Earnings: Profits Fall For 4th Straight Quarter As Bottom Line ... (Forbes)
Tesla stock faltered after its Tuesday afternoon earnings report, despite better-than-forecasted sales, as the company's extended profit growth slump ...
Tesla profit plunges (CNNMoney)
Telsa profit in the second quarter plunged more than 40% from a year ago, as the electric vehicle company has faced both more EV competition from ...
Tesla's profit falls short again in a weakened EV market (The Business Times)
TESLA fell short of Wall Street profit estimates in the second quarter, extending a rocky start to the year marked by slower sales and mass firings across ...
Tesla's profit margin is getting hammered by EV discounts and hefty ... (CNBC)
Tesla's adjusted operating margin shrank to its lowest in three years in the second quarter, contributing to a plunge in the stock price.
Tesla profit margins worst in five years as price cuts, incentives weigh (Reuters)
Tesla on Tuesday reported its lowest profit margin in more than five years and missed Wall Street earnings targets in the second quarter, as the electric ...
Tesla shares fall 7% in premarket trading after earnings miss (CNBC)
Elon Musk's electric vehicle firm reported that automotive revenue dropped 7% year-on-year in the June quarter to $19.9 billion, while its adjusted earnings ...
The Tesla dispute: a new frontier? (Social Europe)
In the face of a prolonged strike for union recognition, Tesla has turned posted workers into strike-breakers.
Tesla (TSLA) Misses Profit Expectations, Extending Weak Start to 2024 (Bloomberg)
Tesla Inc. reported another quarter of disappointing profit and postponed a highly anticipated unveiling of autonomous taxis, sending the carmaker's ...
Tesla shareholders approved Elon Musk's $56 billion pay package ... (Reuters)
The vote was announced at the annual meeting in Texas, which will now be the company's legal home.
Tesla slides as bleak profit margins exposes need for affordable EVs (Reuters)
Tesla shares slid 8% in U.S. pre-market trades on Wednesday after the electric vehicle maker's profit margin fell to a five-year low, raising the urgency of ...
Tesla slides as bleak profit margins exposes need for affordable EVs (CNA)
Tesla shares slid 8 per cent in U.S. pre-market trades on Wednesday after the electric vehicle maker's profit margin fell to a five-year low, ...
Tesla shares plummet after company reports falling profits (ABC News)
Shares of Tesla fell 12% in early trading on Wednesday after an earnings release showed slumping profits in the face of strengthened competition and sluggish ...
Elon Musk's Net Worth Falls $16 Billion As Tesla Stock Tanks (Forbes)
Musk remains the richest person on Earth even after losing the equivalent of the 113th-wealthiest person's entire fortune in one morning.
Tesla stock tumbles over 11% on shrinking auto sales (Livemint)
At 11:32 am EDT, Tesla stock price was at $218.71, down $27.67, or 11.23 per cent.
Nasdaq tracks for worst day since 2022 after Alphabet and Tesla fail ... (CNN)
The Nasdaq Composite declined 3%, on pace for its worst daily percentage decline since December 2022. The S&P 500 fell 1.8% and the Dow lost 0.9%. Big Tech's ...
Stock market news today: Nasdaq sinks near 3% as Tesla, Alphabet ... (Yahoo Finance)
Disappointing Alphabet and Tesla earnings have stirred up worries that Big Tech's power to fuel stock market gains is fading.
Tesla Disappoints While Google Ad Sales Slow (Forbes)
Stocks were flat Tuesday except for small caps. Tesla's earnings disappointed, falling after-hours. Alphabet also beat expectations but the stock is down.
Tesla and Alphabet Earnings Prompt Big Tech Stock Decline (The New York Times)
Disappointing earnings reports from the tech giants dragged the Nasdaq composite down 2.9 percent, amid a shift by investors to stocks of smaller companies.
Why Tesla Stock Just Crashed (Motley Fool)
Tesla (TSLA -10.73%) stock fell 11% through 11:45 a.m. ET Wednesday after the company badly missed analyst forecasts for earnings Tuesday night.
The Tesla Cybertruck has never been crash-tested — and it ... (Quartz)
Limited resources keep the National Highway Traffic Safety Administration and Insurance Institute for Highway Safety from testing every car.
Wall Street suffers worst day since 2022 as Tesla and Google ... (The Guardian)
Tech-focused Nasdaq retreats 3.6% and S&P 500 also down in wake of lacklustre results from big-tech companies.
Is Tesla's stock having an identity crisis? (MarketWatch)
Automotive financials are weighing on Tesla shares Wednesday, but Elon Musk — and many bulls — are focused on the future potential in autonomy and robotics.
The Nasdaq plunges 450 points as Google and Tesla earnings drag ... (Quartz)
Due to a decline in revenue in the earnings report, the stock of tech giants plummeted.
Tesla shares plummet after company reports falling profits (WLS-TV)
Tesla fell 12% in early trading on Wednesday after an earnings release showed slumping profits in the face of competition and sluggish sales.
Tesla shares plummet after company reports falling profits (KGO-TV)
Tesla fell 12% in early trading on Wednesday after an earnings release showed slumping profits in the face of competition and sluggish sales.
US markets suffer worst day since 2022 as Tesla and AI stocks fall (Financial Times)
Elon Musk's electric-vehicle maker loses 12% as Nvidia, Microsoft and Apple lead tech sector sell-off.
Chinese EV startups are spending more on research than Tesla is (CNBC)
U.S.-listed Chinese electric car companies are spending more on research as a ratio to sales than Tesla, according to CNBC analysis.
Tesla and Alphabet earnings disappoint, triggering sharpest market ... (Fortune)
The S&P 500 slumped 2.3% Wednesday, its fifth drop in the last six days. A wipeout on Wall Street sent U.S. stock indexes to their worst ...
CNBC Daily Open: Wall Street sinks, Tesla slumps (CNBC)
S&P 500 and Nasdaq tumble for worst day since 2022. Tesla slumps 12%. Ford misses earnings.
Tesla's Latest Earnings Report Leaves Investors Reeling - The ... (The Global Treasurer)
Despite a 2% increase in annual revenue to $25.5 billion, automotive revenue dropped by 7%, and net income fell by 45% to $1.48 billion. Factors contributing to ...
Ukrainians strip out Tesla batteries to keep the lights on (Financial Times)
Russian attacks have reduced electricity to a few hours a day, forcing businesses to adapt to regular outages.
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