By Aditya Soni and Reshma Rockie George (Reuters) -Tesla shares surged about 10.5% in premarket trading on Wednesday after the electric-car maker eased some worries about slowing growth with a prediction that sales would rise this year and plans to roll out more affordable models in early 2025.
Chief Executive Elon Musk just reassured investors on one big question, but a UBS analyst says he left many more in that wake. Coming into Tesla’s earnings call Tuesday afternoon, investors had been jittery about the company’s low-cost Model 2 plans — which the company had signaled might be deprioritized as Tesla focuses on its robotaxi ambitions.
Tesla expects to book more than $350 million in costs in the second quarter for the mass layoffs it began last week, the automaker disclosed in a regulatory filing on Wednesday. The electric vehicle maker also reiterated that it expects capital expenditure to exceed $10 billion in 2024 and to be between $8 billion to $10 billion in each of the following years.
Tesla said on Tuesday that it will use its existing factories to build new and more affordable vehicles as early as late this year, leaving investments in new factories in Mexico and India unlikely in the near term.
T esla 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. While reporting a disappointing first quarter on Tuesday,
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 is pointing the finger at hybrids as its electric cars experience a drop in demand. In the opening page of its first-quarter earnings presentation Tuesday, Tesla blamed an industry-wide prioritization of these partially battery-powered cars for putting pressure on global EV sales and — by extension — Tesla's sales.
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.
(Reuters) -Shares of Tesla gained 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.
Faced with falling global sales and a diving stock price, Tesla has slashed prices again on some of its electric vehicles and its “Full Self Driving” system in an apparent effort to boost the company's earnings growth.
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.
The EV maker's quarterly profit plunged, but Chief Executive Elon Musk sought to assuage some concerns by underscoring Tesla's commitment to [bringing out less-expensive cars](
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 been teasing robotaxis for years. Chief executive Elon Musk now says they are just months away. With typical grandiloquence, he claims that turning electric vehicles into self-driving cars could be “the biggest asset value appreciation in history”.
Earnings miss notwithstanding, momentum continued to build for Tesla's stock, which was rallying 11% in after hours trading. That's in large part because the EV maker said it plans on adding to its lineup and marketing a cheaper EV as early as next year,
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.
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's revenue fell in the first quarter as it handed over fewer electric vehicles to customers due to slowing demand and intense competition worldwide.
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.
Much of Tesla's earnings call is focused around the company's reprioritization of making fully autonomous cars work. Chief Executive Elon Musk underscored that in comments to analysts. "If somebody doesn’t believe Tesla is going to solve autonomy,
It’s a classic Elon Musk move. Tesla released some pretty grim first-quarter numbers on Tuesday, showing that net income dropped more than 50% from last year. During the earnings call, however, Musk floated his “new” vision for the electric car company.
Things turned out a little differently, with the results repudiating something else: lousy strategic planning by Tesla and others. Tesla is no longer in growth mode. First-quarter
By Chibuike Oguh NEW YORK (Reuters) -Benchmark S&P 500 closed higher in choppy trading on Wednesday, as investors weighed an uptick in Treasury yields amid positive corporate results particularly from technology giants.
Key Takeaways U.S. equities were lower at midday Wednesday, April 24, 2024 following a slew of corporate earnings.Tesla shares surged after Elon Musk announced the electric vehicle maker will accelerate production of new models,
Tesla stock surges after the electric-vehicle maker says its future car lineup would include ‘more affordable models,’ Humana slumps after stepping back from 2025 guidance, Boeing posts a narrower-than-expected loss,
Shares of Tesla (NASDAQ: TSLA) were surging today as investors looked past the weak first-quarter earnings report from the leader in electric vehicles (EVs). They were instead swayed by CEO Elon Musk's insistence that the stock should be valued as an artificial intelligence (AI) and robotics company rather than an auto stock.
It’s a classic Elon Musk move. Tesla released some pretty grim first-quarter numbers on Tuesday, showing that net income dropped more than 50% from last year. During the earnings call, however, Musk floated his “new” vision for the electric car company.
Tesla stock is tracking toward its best day in 27 months, a rally following a pretty brutal Q1 earnings report as investors bought into the growth game plan laid forth by Musk and company.
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.
By lowering the bar on its first quarter results, Tesla has managed to reverse waning investor confidence — for now — even as specifics about its future product lineup remain lacking. Why it matters: The wider electric vehicle transition is intertwined with Tesla,
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.
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,
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.