Tag: tesla profit

Elon Musk Is Willing to Bet Tesla’s Profits on a Driverless Dream
24Apr By adminNo Comments
Technology

Elon Musk Is Willing to Bet Tesla’s Profits on a Driverless Dream

[ad_1] Elon Musk is years behind on his ambition to render Tesla Inc.'s cars fully autonomous. He's now saying in no uncertain terms that he's willing to bet the company's profit margins on making it happen.Musk said on a conference call last week that Tesla has the wherewithal to sell cars at “zero profit” and then earn immense sums later off driverless software. The trouble with that for investors? His predictions since at least 2019 that autonomous Teslas are just around the corner haven't panned out. “We're the only ones making cars that technically we could sell for zero profit for now, and then yield actually tremendous economics in the future through autonomy,” Musk said April 19. “I'm not sure how many of you will appreciate the profundity of what I've just said, but it is extre...
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Tesla’s struggle to lure buyers paints a grim economic picture
22Apr By adminNo Comments
Technology

Tesla’s struggle to lure buyers paints a grim economic picture

[ad_1] Thinning profits at Tesla Inc. and signs of broader weakness in the US auto industry are sending ominous signals for the US economic outlook.Tesla's troubles are no secret as Elon Musk's company has repeatedly cut prices to lure reluctant buyers. But the problem goes beyond the high-profile electric-vehicle maker: Auto-lending giant Ally Financial Inc.'s first-quarter profit took a hit as it made fewer loans and set aside money for defaults, and dealers AutoNation Inc. and Lithia Motors Inc. sold fewer cars, trucks and SUVs. Meanwhile, auto loan delinquencies are rising. The trend is troubling because auto companies typically struggle during downturns when people balk at making big-ticket purchases. This time could be even worse as businesses and consumers are also grappling with...
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Tesla Owners Stay Loyal Through Elon Musk’s Many Controversies
1Mar By adminNo Comments
Technology

Tesla Owners Stay Loyal Through Elon Musk’s Many Controversies

[ad_1] Elon Musk may have turned off some consumers last year, but Tesla Inc. was no worse for wear in an annual analysis of car brands' US customer retention.S&P Global Mobility recognized the maker of the Model 3 sedan and Model Y sport utility vehicle on Monday both for overall brand loyalty and most improved loyalty in 2022. Tesla also was a repeat winner of awards for the top conquest percentage and highest loyalty among owners of vehicles with hybrid or electric powertrains. The market researcher doles out the awards based on its analysis of 11.7 million new-vehicle registrations. S&P Global Mobility tracks US household's vehicle ownership and deems customers loyal when they acquire another new vehicle of the same model, make or manufacturer. When a carmaker lures a consu...
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Tesla Isn’t Having the Epic End to the Year Elon Musk Predicted
14Dec By adminNo Comments
Technology

Tesla Isn’t Having the Epic End to the Year Elon Musk Predicted

[ad_1] Price and production cuts contribute to the CEO squandering his status as world’s richest person. Elon Musk's prediction that Tesla would have an “epic” end of year looks more off base by the day. The ebullient outlook the CEO offered during the carmaker's last earnings call has given way to price and production cuts in China. In the US, Tesla is offering consumers something previously unthinkable: a $3,750 incentive to take delivery of certain vehicles now, rather than wait for the new year. “Tesla increasingly appears to have a demand issue,” Toni Sacconaghi, a Bernstein analyst with the equivalent of a sell rating on the stock, wrote in a report last week. He believes Tesla will need to slash prices further to stimulate demand in China, plus make permanent cuts to the c...
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