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Friday, May 17, 2024

Tesla in trouble?

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Tesla has slashed prices for its entire electric vehicle range in the US for the third time this year in a clear attempt to draw more buyers as interest rates rise.
Friday’s reductions included $5,000 off the pricier S saloon and X large SUV models, while the Y small SUV – the most popular – saw a $2,000 price cut and a new dual-motor version priced at $49,990 was introduced.
The 3 small sedan also got a $1,000 drop.

The move comes as Tesla’s sales in Q1 increased by 36% compared to the same period last year, yet it still didn’t meet analysts’ expectations.
Sunday saw the company announce that it had shipped a record-breaking 422,875 vehicles worldwide from January to March, lower than the anticipated 432,000, according to FactSet.

Sam Abuelsamid, Guidehouse Research e-mobility analyst, explained that if Tesla wants to remain profitable, it needs to sell more vehicles to keep its factories running at maximum efficiency.
“Underutilized plants can rapidly eat into profit margin”, he said.

Tesla now has plants in the US (Fremont, California and Austin, Texas), as well as in Shanghai and near Berlin.

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Lisa
Lisa
Lisa is a skilled writer with a huge passion for journalism. With a talent for storytelling and a deep understanding of current events, she has quickly become a respected journalist in the industry. Lisa's articles are always well-written and thought-provoking, and she has a knack for finding the most interesting angles on any story. She is known for her ability to connect with her readers and engage them in the issues that matter most. Lisa is a dedicated journalist who is passionate about making a positive impact through her writing. When she's not working, Lisa enjoys hiking, yoga, and spending time with her loved ones.

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