![]() Tesla shares have soared more than 68% this year on hopes the company would win the price war it started, although the stock remains more than 50% below its November 2021 peak. In January, Musk said the price cuts had stoked demand. ![]() Musk warned that the prospect of recession and higher interest rates meant the EV maker could lower prices to sustain growth at the expense of profit. Market leader BYD accounted for 41% of so-called new energy car sales in the world's biggest auto market for the first two months of the year. Tesla's cuts in China ignited a price war, with Chinese rivals including BYD and Xpeng dropping prices to defend market share amid weakening demand. electric vehicle subsidies, which may fall on some models starting on April 18. Tesla did not immediately respond to Reuters' questions about whether further cuts are in store.įurther clouding the demand outlook are U.S. Tesla tweeted on Sunday that its Texas factory built 4,000 Model Y this week, while the automaker said in late February that its German plant was producing 4,000 cars per week.īarclays analyst Dan Levy expected Tesla may be pressured to lower prices further as many automakers have matched the cuts and concerns about a weakening economy persist. The automaker ramped up production at new factories in Texas and Berlin, and as China production recovered from a COVID-19 lockdown hit. The carmaker produced more cars than it delivered, manufacturing 440,808 vehicles for the first three months of this year. But the number of deliveries for its higher-priced Model X/Model S vehicles slumped by 38%. Tesla delivered 6% more of its mainstay Model 3/Model Y vehicles in the first three months of this year than in the previous quarter. ![]() The consensus is "all over the place," Munster said. Reuters could not independently confirm that figure. Tesla said consensus of more than 20 analysts called for 421,500 vehicles delivered, Tesla investor Gary Black said in a tweet. Other estimates show Tesla beat Wall Street expectations with its 422,875 vehicles delivered.Īnalysts surveyed by Bloomberg expected 421,164 vehicles would be shipped. Tesla missed the figure analysts surveyed by Refinitiv and FactSet were expecting. The first-quarter deliveries compare with analyst expectations of 430,008 vehicles, according to Refinitiv data based on seven analysts.Īccording to a mean of estimates compiled by FactSet as of Friday, Wall Street was expecting Tesla to report deliveries of around 432,000 vehicles for the quarter, the Wall Street Journal and CNBC reported. ![]()
0 Comments
Leave a Reply. |