2024-04-23 20:36:00
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On Tuesday, electric car manufacturer pioneer Tesla published its long-awaited results for the first quarter.
Tesla reported its first decline in sales in regarding four years last quarter. Revenue fell nine percent year-on-year to $21.3 billion, as the electric car pioneer announced following the US stock market closed on Tuesday. Analysts on average had expected sales of $22.15 billion. Tesla’s earnings per share were also below market expectations. The conclusion is that the quarterly result fell by 55 percent to 1.13 billion dollars (1.06 billion euros).
The decline in business numbers became evident following Tesla missed expectations with deliveries of around 387,000 vehicles in the first quarter. It was 8.5 percent less than in the same quarter the previous year – and a decrease of 20 percent compared to the last quarter in 2023. Tesla refers, among other things, to the fact that production at the Grünheide plant near Berlin was temporarily halted in the first quarter following an attack on the power supply.
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Initially, Tesla did not give a specific forecast for deliveries for the current year, but expects a noticeable decrease compared to 2023. When presenting the quarterly figures, Tesla confirmed that new models should be put into production in the second half of 2025 – including cheaper vehicles. . According to media reports, there were recent doubts regarding whether Tesla would stick with a cheaper model that had been announced for years. Musk recently announced the launch of a robot axis on August 8, but did not mention the cheaper model for human drivers.
After rapid growth in recent years, Tesla faces weaker demand and increasing competition, especially from China. CEO Elon Musk is cutting more than one in ten jobs. During the weekend, Tesla once once more lowered the prices of certain model variants./so/DP/he
Tesla shares were temporarily up 6.01 percent to $153.30 in US trading following opening hours on NASDAQ. The price had fallen by more than 40 percent since the start of the year.
Editing at finanzen.net with material from dpa-AFX
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