Tesla Is on both offense and defense in its price war
Musk is determined to position Tesla for continued expansion after the company fell short of its target for growth in vehicle deliveries last year. Cutting the prices of theand Y will make more of those models eligible for new US tax credits introduced by the Inflation Reduction Act.
During a Twitter Spaces conversation last month, Musk predicted a serious recession this year and warned consumers will cut back on big-ticket purchases. He called higher interest rates and lower demand a “double-whammy,” and said Tesla faced a choice. “Do you want to grow unit volume, in which case you have to adjust prices downward? Or do you want to grow at a lower rate, or steady?” Musk asked, rhetorically. “My bias would be to say let's grow as fast as we can without putting the company at risk.”
In that scenario, Tesla’s CEO said profits would be “lower to negative” during the recession, on the condition that its cash position is sound.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Tesla's price cuts projected to help boost volume growth to 53% this year - AutoblogBank of America maintained a neutral rating on Tesla stock and trimmed its price target to $130 from $135.
Weiterlesen »
Paul Krugman says Elon Musk's Tesla can never be a 'profit machine' like Apple - AutoblogMusk is nothing like Steve Jobs and the Tesla CEO has destroyed his 'image of cool' in recent months, according to Krugman.
Weiterlesen »
German union says Tesla workers face unreasonable working hours and fear speaking out - AutoblogA German union representing workers at Tesla's Berlin factory criticized the electric carmaker for 'not doing enough to improve working conditions.'
Weiterlesen »
Opening statements begin in Tesla shareholder Elon Musk tweets trial - AutoblogOpening statements begin Wednesday in a trial over whether Tesla CEO Elon Musk cheated investors by tweeting he'd lined up financing to take Tesla private.
Weiterlesen »
Teslas, Porsches ruined at Alioto's San Francisco garage during brutal stormsAbout 40 Teslas and Porsches were ruined when floodwater in San Francisco seeped into Alioto's Garage on Folsom Street during the torrential storms.
Weiterlesen »
Toyota GR Yaris showered with love at Tokyo Auto Salon - AutoblogOver the weekend at the Tokyo Auto Salon, Toyota showed it's not finished making frequent, substantive evolutions to its super-hot GR Yaris hatchback
Weiterlesen »