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 current quarter for the mass layoffs it began last week, the automaker disclosed on Wednesday, as it shifts focus to more affordable models that it plans to introduce by early 2025.
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 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 first-quarter net income plummeted 55% as falling global sales and price cuts sliced into the electric vehicle maker's revenue and profit margins
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 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.
Buried in the earnings release, Tesla did something it doesn’t typically do: It gave investors some firm dates on near-term plans. There’s very little good news in Tesla’s Q1 earnings. Earnings per share and revenues both missed analyst expectations.
Tesla is blaming hybrids for stealing EV sales. Inexpensive hybrid cars have become a popular choice for green-car shoppers. That's a real problem for Tesla, which doesn't sell hybrids. Tesla is pointing the finger at hybrids as its electric cars experience a drop in demand.
Tesla said it will lay off 6,020 employees in Texas and California ahead of its quarterly results on Tuesday when CEO Elon Musk is expected to outline the electric-vehicle maker's strategy to combat slowing demand and falling margins.
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.
(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.
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 will lay off 2,688 employees at its Texas factory, the electric vehicle maker said in a Worker Adjustment and Retraining Notification (WARN) notice. The notice on Monday was issued under the WARN Act,
Profits from Tesla’s energy business were up 140 percent compared with the same period last year, and Musk asserted yesterday that the division will continue to grow “significantly faster than the car business.
Tesla shares zoomed higher in early trading, despite the automaker reporting dismal first-quarter earnings on Tuesday. Investors took heart after Chief Executive Elon Musk said Tesla was accelerating
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 is talking with "one major automaker" regarding licensing Full Self Driving, Tesla's suite of advanced driver-assistance features geared to city driving, Elon Musk says. He did not name the automaker.
Indonesia’s central bank unexpectedly raised its benchmark interest rate by 0.25 percentage points to 6.25 per cent on Wednesday, in a bid to support the sliding rupiah currency
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 and cut thousands more 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 as it cuts thousands of jobs to try to reverse its fortunes. The electric vehicle (EV) maker said on Tuesday it had made $1.
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.
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,
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,
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.
The stakes are high for Tesla going into its earnings report, due after markets close Tuesday. Scores of individual investors have piled into Tesla shares in recent years, lured by Chief Executive Elon Musk and the company's mammoth stock-market gains.