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.
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.
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 releases its first-quarter earnings on Tuesday as the EV maker faces competitive and economic headwinds that have investors looking to CEO Elon Musk for a reversal of fortune.
(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.
Tesla Inc. was sued by a former employee who claims the company’s decision to lay off about 10% of its workforce in a global retrenchment violated the law by failing to provide required advance notice.
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,
US stocks looked set to open higher at the opening bell on Tuesday, as traders waited for Tesla to kick off a make-or-break Magnificent Seven earnings season. Shortly after 5 a.m. ET, S&P 500 futures were up 0.
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 tumbled 4% on Monday, as its latest global price cuts fanned Wall Street concerns about dwindling margins at the electric-vehicle maker in the run-up to its earnings report later this week. The company slashed prices by up to $2,
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
Tesla appears to have pulled the plug on its short-lived marketing team. The company cut its entire US "growth content" team in its recent round of layoffs, according to a report from Bloomberg. The team included a group of about 40 people,
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 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.
It’s been a very bad year so far for Tesla. Investors will be closely watching its earnings report and comments to investors after the bell Tuesday to determine just how bad.
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,
Shares of Tesla edged higher 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.
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.
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.
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.