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. The Austin,
Tesla on Tuesday said it was targeting 400 job cuts at its German gigafactory near Berlin, adding the plan was to achieve this through a voluntary programme instead of forced layoffs. "The currently weakening sales market for electric cars is also presenting Tesla with challenges,
US stocks looked set to open higher at the opening bell on Tuesday, as traders waited for Tesla to kick off a make-or-break Magnificent Seven earnings season. Shortly after 5 a.m. ET, S&P 500 futures were up 0.
After a rough quarter, Elon Musk’s car company is expected to post its first revenue drop in four years. It was a big weekend for Tesla, with the company announcing price drops on a number of its vehicles as well as its full self-driving software.
Tesla Inc.’s price cuts in China could cost the carmaker the entirety of its operating profit in the world’s biggest electric-vehicle market, Evercore ISI warned in a new report.
Tesla reported a 9 per cent decline in first-quarter revenue and a continued erosion of its profit margins amid a sharp fall in the sale of its vehicles. In a filing on Tuesday, the electric-car maker said revenue fell to $21.
The EV maker’s profit plunged to its lowest level since 2021 as pressure mounted on Elon Musk to better articulate his vision for the electric-car maker.
Tesla Inc. said it will accelerate the launch of more affordable models after reporting worse-than-expected profit and revenue for a third consecutive quarter.
Tesla launched a performance variant of its Model 3 compact sedan in the United States at $52,990, the electric vehicle maker's website showed on Tuesday.
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 is targeting around 400 job cuts at its German gigafactory near Berlin, or about 3% of the plant's total workforce, it said on Tuesday, adding it was hoping to achieve this without forced layoffs.
Tesla, the world’s most valuable automaker, is set to report earnings after the market closes Tuesday. Dour analyst projections on sales and profit reflect the company’s rough start to 2024. Investors
The recent run of bad news continued for Tesla on Tuesday as it reported its first quarter adjusted earnings plunged 48%, falling short of lowered Wall Street forecasts.
Russia’s deputy defence minister Timur Ivanov has been detained on suspicion of receiving a bribe, the country’s top investigative police agency has said. “Corresponding investigative actions are being carried out,
Tesla said earlier this month that it produced more than 46,000 vehicles than it delivered to customers in the first quarter. That dynamic seems to have resulted in a sizable increase of unsold supply at the end of the first quarter.
Tesla is expected to report its lowest gross profit margin in more than six years on Tuesday after a chaotic week that included major layoffs, vehicle price cuts and urgent calls by investors for clarity on product strategy.
Tesla has announced aggressive price cuts in China and Germany, shortly after reducing prices in the United States, as the world’s largest maker of electric vehicles (EV) faces declining sales and growing competition in major markets.
Tesla is planning to put new models into production in the second half of 2025 — including more affordable models that were previously reported to be canceled.
It’s been a very bad year so far for Tesla. Investors will be closely watching its earnings report and comments to investors after the bell Tuesday to determine just how bad.
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.
Elon Musk's company Tesla has seen its biggest drop in revenue in over a decade by nine percent, according to the company's recent first quarter earnings report. This comes after the company faced several layoffs.
Tesla profits fell 55% to $1.13 billion in the first quarter from the same year-ago period as a protracted EV price-cutting strategy and "several unforeseen challenges" cut into the automaker’s bottom line.
Tesla reported a big drop in quarterly profits Tuesday, pointing to elevated pressure on the electric vehicle market that has led to deep cost-cutting.
Tesla's been undergoing some major changes, and now we have a sense of why: The company says it is upending its product roadmap because of "pressure" on EV sales. The new and accelerated plan now includes "more affordable models" that the company claims will be launched next year.
The first-quarter results are likely to fuel worries that competitors will continue grabbing a bigger slice of a market dealing with slowing electric car sales.
Tesla is not having a good start to the week. Today the news is that recent price cuts have irked Tesla investors, who sent its shares off around 4% in early trading today. Tesla's last week saw the company slash its staffing,
Tesla saw a 9 percent year-over-year decline in first-quarter revenue, the electric vehicle (EV) company said Tuesday. The drop in revenue, Tesla’s largest since 2012, comes as the EV firm faces falling sales and growing competition.
Tesla (TSLA) stock jumped in post-market trading after the company said it would accelerate the launch of more affordable vehicles. "We have updated our future vehicle line-up to accelerate the launch of new models ahead of our previously communicated start of production in the second half of 2025,
Tesla knocked $2,000 off the prices of three of its five models in the United States late Friday, another sign of the challenges facing the electric vehicle maker led by billionaire Elon Musk.