Elon Musk turned democrats off Tesla when he needed them most
8 months ago

Elon Musk turned democrats off Tesla when he needed them most

Live Mint  

For years, the biggest cohort of Tesla buyers, politically speaking, has been Democrats. The proportion of Democrats buying Tesla vehicles fell by more than 60%, according to car buyers surveyed in October and November by researcher Strategic Vision. Other surveys have captured a pullback in consumers’ consideration of Tesla vehicles since Musk acquired the social-media platform in late 2022 and held court on contentious social issues. Among 2022 model-year buyers, Democrats made up 40% of Tesla customers and 39% in 2023, according to Strategic Vision’s surveys. Those differences were further highlighted in the past year amid a contentious Republican primary season where candidates took aim at President Biden, the presumptive Democratic nominee seeking a second term, and his work to support development and adoption of EVs in the U.S. Former President Trump, the presumptive Republican nominee for the White House, has made attacks on electric cars a regular talking point during his campaign, even as he and Musk appear to have a bromance in the works ahead of November.

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History of this topic

Trump could make it tougher to afford electric cars. Why Elon Musk doesn’t mind
1 month ago

Trump could make it tougher to afford electric cars. Why Elon Musk doesn’t mind

LA Times  

Here’s what you need to know to start your day. That’s welcome news to Elon Musk, whose Tesla Motors is the state‘s and nation’s most popular purveyor of electric cars. “Taking away buyer credits would hurt them more than it would hurt Tesla, whose EV market share has begun to drop in the face of new competition.” The subsidy shakeup …

Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company
1 month, 2 weeks ago

Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

Associated Press  

NEW YORK — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House. Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. …

Facing skepticism, Elon Musk unveils prototype for driverless robotaxi
2 months, 1 week ago

Facing skepticism, Elon Musk unveils prototype for driverless robotaxi

LA Times  

Elon Musk unveiled the Cybercab on Thursday night at a highly anticipated event on the Warner Bros. Studios lot in Burbank. Tesla Chief Executive Elon Musk presented a lofty vision for the future Thursday night, unveiling prototypes of a self-driving taxi and van that he said would revolutionize travel and claiming the electric car company would put fully autonomous vehicles …

Musk says Trump's withdrawal of EV support will harm rivals more than Tesla
5 months ago

Musk says Trump's withdrawal of EV support will harm rivals more than Tesla

Firstpost  

Former President Trump, the Republican candidate supported by Musk, has been critical of the Biden administration’s EV policies and has said that he will ’end the electric vehicle mandate’ if he wins office Musk said any Trump removal of subsidies, and the resulting impact on Tesla car sales was not crucial because Tesla is an artificial intelligence company focused on …

Statewide EV sales growth sees a drop. Tesla, once a California darling, hit hard
5 months ago

Statewide EV sales growth sees a drop. Tesla, once a California darling, hit hard

LA Times  

When does a sales-growth downturn move from a temporary blip to a longer-term trend? After years of rapid expansion, electric vehicles sales growth in California trended down in the middle of last year and now has turned negative: 101,443 all-electric cars were registered in the state in 2024’s second quarter, down from 102,730 in the second quarter of 2023, a …

Electric cars: EV sales are slumping—but that doesn’t mean they're dead.
5 months, 1 week ago

Electric cars: EV sales are slumping—but that doesn’t mean they're dead.

Slate  

It’s tough to gauge how well the United States’ burgeoning electric vehicle industry is faring in 2024. EV ownership is increasingly politicized, in both directions—liberals horrified by Elon Musk’s far-right turn are fueling the Tesla sales slump, while right-wingers fearmonger over foreign EV companies and want to get electric cars off the road altogether. You can see this in the …

Tesla sales fall in Q2 despite price cuts
5 months, 3 weeks ago

Tesla sales fall in Q2 despite price cuts

Associated Press  

DETROIT — Tesla’s global sales fell for the second straight quarter despite price cuts and low-interest financing offers, another sign of weakening demand for the company’s products and electric vehicles overall. AP AUDIO: Tesla sales fall for second straight quarter despite price cuts, but decline not as bad as expected AP correspondent Tom Krisher reports Tesla sale numbers may be …

Tesla sales have peaked in California, industry group predicts
7 months, 3 weeks ago

Tesla sales have peaked in California, industry group predicts

LA Times  

Cars are parked in a lot at the Tesla factory in Fremont, Calif., in 2022. Tesla sold fewer vehicles in California for the second straight quarter, suggesting its popularity in the state may have peaked, according to a report from the California New Car Dealers Assn. While the electric car company still makes some of the top-selling models in California, …

Tesla Quarter 1 profit falls 55%, company plans move to cheaper vehicles
8 months ago

Tesla Quarter 1 profit falls 55%, company plans move to cheaper vehicles

Hindustan Times  

Tesla’s first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate production of new, more affordable vehicles. On a conference call with analysts, CEO Elon Musk said he expects production to start in the second half of next year “if not late this year.” New factories or massive new …

Tesla 1Q profit falls 55%, but stock jumps as company moves to speed production of cheaper vehicles
8 months ago

Tesla 1Q profit falls 55%, but stock jumps as company moves to speed production of cheaper vehicles

Associated Press  

Tesla’s first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate production of new, more affordable vehicles. On a conference call with analysts, CEO Elon Musk said he expects production to start in the second half of next year “if not late this year.” New factories or massive new …

Tesla’s first-quarter net income tumbles 55% as falling global sales and price cuts reduce profits
8 months ago

Tesla’s first-quarter net income tumbles 55% as falling global sales and price cuts reduce profits

LA Times  

Tesla said it made $1.13 billion from January through March compared with $2.51 billion in the same period a year ago. 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. Tesla said in a letter to investors Tuesday that its vehicle sales growth “may be notably …

Tesla cuts prices amid global challenges
8 months ago

Tesla cuts prices amid global challenges

China Daily  

This file photo taken on Jan 12, 2018, shows a Tesla logo seen in Los Angeles, California, the US. The world's largest EV maker by volume, which is owned by the technology billionaire Elon Musk, said it would reduce prices in all of its major markets, which include the US, Germany, and China. The Chinese smartphone maker Xiaomi has also …

Tesla shares tumble below $150 per share, giving up all gains made over the past year
8 months ago

Tesla shares tumble below $150 per share, giving up all gains made over the past year

Associated Press  

Tesla’s stock tumbled below $150 per share, giving up all of the gains made over the past year as the electric vehicle maker reels from falling sales and steep discounts intended to lure more buyers. Tesla sales fell sharply last quarter as competition increased worldwide, electric vehicle sales growth slowed, and price cuts failed to draw more buyers. Dan Ives, …

Tesla share price falls 37% in 2024 as Elon Musk’s EV maker suffers demand slowdown; market value drops below $500 bn
8 months, 1 week ago

Tesla share price falls 37% in 2024 as Elon Musk’s EV maker suffers demand slowdown; market value drops below $500 bn

Live Mint  

Tesla share price extended fall for 2024, pushing its market valuation briefly below $500 billion amid a round of job cuts this week underscoring that the company’s growth has slowed. Tesla shares have not closed with a market value under $500 billion since late April last year and stayed narrowly above the mark as of Tuesday’s close, Bloomberg News reported. …

Poll shows automakers are ignoring the FOUR things shoppers want from electric cars
8 months, 2 weeks ago

Poll shows automakers are ignoring the FOUR things shoppers want from electric cars

Daily Mail  

Manufacturers like Ford, GM and Toyota are not meeting the expectations of EV shoppers in four key areas, new research reveals. Shoppers want lower prices, higher ranges, electric SUVs and cars rather than the trucks makers have focused on, and more EVs from trusted brands like Toyota, according to a poll by Edmunds. EV shoppers want prices far below current …

Tesla sales tumble nearly 9%, most in 4 years, as competition heats up and demand for EVs slows
8 months, 3 weeks ago

Tesla sales tumble nearly 9%, most in 4 years, as competition heats up and demand for EVs slows

Associated Press  

DETROIT — Tesla sales fell sharply last quarter as competition increased worldwide, electric vehicle sales growth slowed, and price cuts failed to lure more buyers. But TD Cowen Analyst Jeffrey Osborne wrote in a note to investors that weaker March sales indicate that incentives, including discounts and a free trial of “Full Self Driving” software, “did not work as demand …

Tesla sales fall short of estimates in first drop since 2020
8 months, 3 weeks ago

Tesla sales fall short of estimates in first drop since 2020

LA Times  

Tesla sales fell short of estimates in the first three months of this year. Tesla Inc. suffered its first year-over-year sales drop since the early days of the COVID-19 pandemic. Wall Street had rapidly lowered projections for the Austin-based company’s deliveries as the first quarter came to a close, including some analysts who correctly predicted that the tally would come …

Tesla California registrations fall for the first time since the pandemic
10 months, 3 weeks ago

Tesla California registrations fall for the first time since the pandemic

The Hindu  

Registrations of Tesla vehicles in California dropped 10% in the last quarter of 2023, the first fall in more than three years in the state, which is one of the most important markets for the electric carmaker and considered a national trend setter. A total of 47,592 Tesla vehicles were registered in California in the fourth quarter, compared with 52,782 …

Tesla valuation drops by $80 billion after Elon Musk's sales warning
10 months, 4 weeks ago

Tesla valuation drops by $80 billion after Elon Musk's sales warning

Hindustan Times  

Tesla tumbled over 12% on Thursday after CEO Elon Musk warned sales growth would slow this year despite price cuts that have already hurt margins at the world's most valuable automaker and fueled investor concerns about soft demand and Chinese competition. Elon Musk warned that global Tesla sales might hit a slump Musk said on Wednesday that growth would be …

Tesla loses over $82 billion, stock plunges 12% in a single day after ‘disastrous’ earnings call
10 months, 4 weeks ago

Tesla loses over $82 billion, stock plunges 12% in a single day after ‘disastrous’ earnings call

Firstpost  

The stock value of Tesla saw a significant dip of just over 12% on Thursday following remarks by CEO Elon Musk highlighting the challenges posed by Chinese electric-car manufacturers, whom he referred to as “the most competitive car companies in the world.” During Tesla’s earnings call on Wednesday, Musk praised Chinese carmakers such as BYD, Geely, and SAIC, emphasizing their …

Tesla hit by first ever drop in annual profits amid electric car price war
11 months ago

Tesla hit by first ever drop in annual profits amid electric car price war

The Telegraph  

Tesla has recorded its first ever drop in annual profits as it suffers the effects of an electric vehicle price war orchestrated by its chief executive, Elon Musk. It caps a challenging year for Tesla and Mr Musk, in which the company has been overtaken as the world’s best-selling electric car manufacturer by China’s BYD and its chief executive has …

Elon Musk’s Tesla loses $94 billion in market valuation as global EV market slows down
11 months, 1 week ago

Elon Musk’s Tesla loses $94 billion in market valuation as global EV market slows down

Firstpost  

Tesla, after a stellar 2023 where its shares more than doubled, is facing a rocky start to 2024, marking its worst beginning to any year in its history. Tesla’s market capitalization has taken its biggest hit since going public in 2010, with a 12% drop since the start of January, the largest in percentage terms since 2016. Despite Tesla’s recent …

Price cuts boost Tesla’s 4Q sales, beating estimates as electric vehicle growth rate slows
11 months, 3 weeks ago

Price cuts boost Tesla’s 4Q sales, beating estimates as electric vehicle growth rate slows

Associated Press  

DETROIT — Steep price cuts helped electric vehicle maker Tesla Inc. increase its fourth-quarter vehicle sales by almost 20% as EV sales growth slowed across the industry. Full-year sales numbers fell far short of CEO Elon Musk’s prediction of 50% sales growth in most years. Industry analysts expect the price cuts to trim Tesla’s profit margins when it reports earnings …

Are people giving up on EVs? Elon Musk lost $28 billion as Tesla took a beating last quarter
1 year, 1 month ago

Are people giving up on EVs? Elon Musk lost $28 billion as Tesla took a beating last quarter

Firstpost  

The sale of EVs is slowing down at an alarming pace. Tesla reported disappointing quarterly earnings for a variety of reasons, because of which Elon Musk lost about $28 billion in his personal wealth. Other automakers, are looking at options other than EVs Tesla, led by Elon Musk, reported disappointing quarterly earnings, prompting investors to reevaluate their expectations for the …

Tesla 3Q sales rise 27% but fall short of expectations due softening demand and factory downtime
1 year, 2 months ago

Tesla 3Q sales rise 27% but fall short of expectations due softening demand and factory downtime

Associated Press  

Tesla’s summertime deliveries of electric vehicles surged 27% from last year but still fell below analyst projections as Elon Musk’s car company navigated through softening customer demand as well as factory upgrades. As usual, Tesla’s sales consisted primarily of its Model 3 and Model Y vehicles, which have been made even more attractive by rounds of price cutting that have …

Super Tesla, Super Elon Musk: EV maker earned over $25 bn last quarter, despite lowering margins
1 year, 5 months ago

Super Tesla, Super Elon Musk: EV maker earned over $25 bn last quarter, despite lowering margins

Firstpost  

Despite falling margins, Tesla had a blast in the last quarter, where it made over $25 billion. Tesla may very well become the most profitable car maker soon, as it is set to meet its projections this year, which will only be boosted by the Cybertruck Tesla made $2.7 billion in profit during the second quarter, which is 20 per …

Tesla’s surprising new route to EV domination
1 year, 5 months ago

Tesla’s surprising new route to EV domination

Hindustan Times  

IN 2011 TESLA stated an aim of becoming “the most compelling car company of the 21st century, while accelerating the world’s transition to electric vehicles”. Mr Musk’s ambition to dominate the auto business—making 20m cars a year by 2030, double the current output of today’s top manufacturer, Toyota, and creating the go-to self-driving system—certainly compels investors, who value Tesla at …

Strong demand drives US new vehicle sales higher in the first half of the year
1 year, 5 months ago

Strong demand drives US new vehicle sales higher in the first half of the year

Associated Press  

Demand for new SUVs, trucks and cars in the U.S. picked up steam in the second quarter, but the stronger sales kept prices high for consumers. Electric vehicle sales continued to rise during the first half of the year to more than 557,000 vehicles, or 7.2% of all new vehicle sales. In all of last year, consumers bought just over …

Tesla shares accelerate toward $300 on spike in deliveries and charging deal with major automakers
1 year, 5 months ago

Tesla shares accelerate toward $300 on spike in deliveries and charging deal with major automakers

Associated Press  

Tesla is roaring back from a dismal 2022 as company shares, which have already doubled this year, were driven higher Monday by a spike in second-quarter deliveries. Shares jumped 7% to a new high for 2023 after the electric car maker said its deliveries in the most recent quarter rose 83% compared with the same period last year. Shares were …

Tesla sales jump 83% from a year ago as tax credits, broader adoption drive sales
1 year, 5 months ago

Tesla sales jump 83% from a year ago as tax credits, broader adoption drive sales

Associated Press  

DETROIT — Tesla’s second-quarter deliveries rose 83% from a year ago after the company cut prices several times on its four electric vehicle models and buyers took advantage of U.S. government tax credits. But the price cuts, both for special orders and on existing inventory, raised questions from analysts who expect the cuts to reduce Tesla’s profit margins when it …

Tesla’s margins drop on aggressive discounting, shares fall
1 year, 8 months ago

Tesla’s margins drop on aggressive discounting, shares fall

Live Mint  

Tesla Inc missed market estimates for first-quarter margin on Wednesday, throttled by a series of aggressive price cuts meant to spur demand in a sagging economy and fend off rising competition. Finance chief Zachary Kirkhorn promised in January that Tesla would not go below automotive gross margins of 20% and an average selling price of $47,000 across models. The electric-vehicle …

Elon Musk’s playbook for Tesla to survive recession: Cut costs drastically, engage competitors in price war
1 year, 10 months ago

Elon Musk’s playbook for Tesla to survive recession: Cut costs drastically, engage competitors in price war

Firstpost  

Elon Musk believes that 2023 will see the beginning of a massive recession. In a conference call discussing Tesla’s fourth-quarter results, with Tesla executives, Elon Musk outlined his plan to reshape the economics that electric vehicle makers follow, in order to survive what Musk believes to be a “serious” recession. Musk plans to run Tesla’s factories in a much leaner …

Tesla shares tumble after company misses delivery target
1 year, 11 months ago

Tesla shares tumble after company misses delivery target

Associated Press  

DETROIT — Shares of Tesla tumbled more than 12% Tuesday on the first full day of trading since the company announced 2022 delivery numbers that fell short of targets. Tesla said Monday that it sold a record 1.3 million vehicles last year, but the number fell short of CEO Elon Musk’s pledge to grow deliveries by 50% nearly every year. …

Tesla shares plunge 13 percent on growth concerns
1 year, 11 months ago

Tesla shares plunge 13 percent on growth concerns

Al Jazeera  

Once worth more than $1 trillion, Tesla lost more than 65 percent in 2022 and $60bn on Tuesday alone. Tesla Inc shares started 2023 where they left off last year, plunging more than 13 percent on Tuesday on growing worries about weakening demand and logistical problems that have hampered deliveries for the world’s most valuable automaker. Tuesday’s slide knocked off …

Tesla offers rare year-end discounts on 2 top-selling models
2 years ago

Tesla offers rare year-end discounts on 2 top-selling models

Associated Press  

DETROIT — Tesla Inc. is offering rare discounts through year’s end on its two top-selling models, an indication that demand is slowing for its electric vehicles. Teslas weren’t eligible for a previous federal tax credit program because the company had reached a limit of 200,000 vehicles sold. “EV competition is increasing across the board, and Tesla is seeing some demand …

Tesla investors voice concern over Elon Musk’s focus on Twitter
2 years ago

Tesla investors voice concern over Elon Musk’s focus on Twitter

Live Mint  

The chorus of Tesla Inc. individual investors expressing misgivings that Chief Executive Elon Musk‘s involvement with Twitter Inc. may be to the detriment of the electric-vehicle maker is getting louder, with the car company’s stock on track for its worst full-year performance. Shares in the world’s largest car company by market value fell more than 6% in Monday trading after …

Tesla stock hits two-year low after boss Musk sells more shares
2 years, 1 month ago

Tesla stock hits two-year low after boss Musk sells more shares

Al Jazeera  

Musk’s latest share sale fuelled jitters about the fallout of his Twitter buy on the world’s most valuable carmaker. The latest sale brings the total amount of Tesla stock sold by Musk since last November to about $36bn – despite his having said earlier that he would sell no more of his shares. Musk said on a conference call last …

Tesla bounces back after a production slowdown
2 years, 2 months ago

Tesla bounces back after a production slowdown

NPR  

Tesla bounces back after a production slowdown Enlarge this image toggle caption Patrick Pleul/AP Patrick Pleul/AP Elon Musk is confident the end of year for Tesla will be "epic" because electric vehicles are more desirable amid unstable gas prices, the CEO said on a call with shareholders and analysts. Sponsor Message "For the first time after a Cinderella story, the …

Tesla sales bounce back in Q3 but fall short of estimates
2 years, 2 months ago

Tesla sales bounce back in Q3 but fall short of estimates

Associated Press  

AUSTIN, Texas — Tesla’s sales rose 35% in the July-September period compared to the second quarter as the company’s huge factory in China got past supply chain issues and pandemic restrictions. Tesla said it’s becoming more challenging to find transportation capacity at a reasonable cost when it needs to move vehicles from its factories to its customers. Tesla said it …

Musk’s antics turn Tesla owners, new buyers against it
2 years, 4 months ago

Musk’s antics turn Tesla owners, new buyers against it

Al Jazeera  

Dennis Levitt got his first Tesla, a blue Model S, in 2013, and loved it. He bought into the brand as well as Elon Musk, Tesla Inc.’s charismatic chief executive officer, purchasing another Model S the following year and driving the first one across the country. “He acts like a seven-year-old.” Before it was reported Musk had an affair with …

Tesla’s Q2 sales drop amid problems of supply chain, COVID-19 pandemic
2 years, 5 months ago

Tesla’s Q2 sales drop amid problems of supply chain, COVID-19 pandemic

India TV News  

Highlights Tesla on Saturday disclosed it sold more than 2,54,000 cars and SUVs from April through June Sales drop 18% from first 3 months of 2022 and also well below pace in last year’s final quarter The last time Tesla sold fewer vehicles globally was in the third quarter of 2021 Business news : Tesla’s sales from April through June …

Musk says Tesla’s new car factories ‘losing billions of dollars’
2 years, 6 months ago

Musk says Tesla’s new car factories ‘losing billions of dollars’

The Hindu  

Tesla Inc's new car factories in Texas and Berlin are "losing billions of dollars" as they struggle to increase production because of a shortage of batteries and China port issues, Chief Executive Elon Musk said in an interview published on Wednesday. Musk said Tesla's Texas factory produces a "tiny" number of cars because of challenges in boosting production of its …

Anticipating U.S. downturn, Elon Musk details Tesla staff cuts
2 years, 6 months ago

Anticipating U.S. downturn, Elon Musk details Tesla staff cuts

The Hindu  

Elon Musk, CEO of Tesla, said a 10% cut in salaried staff at the electric car maker will happen over three months, as the world's richest man predicted a U.S. recession was more likely than not. Speaking at the Qatar Economic Forum organised by Bloomberg, Musk said the cuts would apply only to salaried workers, meaning a 3.5% reduction in …

Can no longer support Democrats, will vote Republican: Elon Musk
2 years, 7 months ago

Can no longer support Democrats, will vote Republican: Elon Musk

India Today  

Tesla Inc TSLA.O CEO Elon Musk said on Wednesday that while he voted for Democrats in the past, he will now vote for Republicans. But they have become the party of division & hate, so I can no longer support them and will vote Republican," he tweeted. "Now, watch their dirty tricks campaign against me unfold," said Musk, the world's …

Tesla profits surge as EV maker races past rising material costs
2 years, 8 months ago

Tesla profits surge as EV maker races past rising material costs

Al Jazeera  

Shares of Tesla rose 4 percent after the close of regular trading. Tesla Inc surged past Wall Street estimates for quarterly revenue and profit on Wednesday, as the electric vehicle maker raised prices in response to inflation, offsetting the impact of a Shanghai factory shutdown. “Chinese production issues seem well managed, and we expect Austin and Berlin to make up …

Business Highlights: High inflation, stock market slump
2 years, 10 months ago

Business Highlights: High inflation, stock market slump

Associated Press  

___ US inflation highest in 40 years, with no letup in sight WASHINGTON — Inflation soared over the past year at its highest rate in four decades, hammering America’s consumers, wiping out pay raises and reinforcing the Federal Reserve’s decision to begin raising borrowing rates across the economy. ___ Stocks slump, bond yields soar after a hot inflation reading NEW …

Tesla posts record profit, won’t produce new models in 2022
2 years, 10 months ago

Tesla posts record profit, won’t produce new models in 2022

Associated Press  

DETROIT — Tesla Inc. on Wednesday posted record fourth-quarter and full-year earnings as deliveries of its electric vehicles soared despite a global shortage of computer chips that has slowed the entire auto industry. Although the company predicted it would be able to build 50% more vehicles than it made last year, CEO Elon Musk said the chip shortage would stop …

Tesla posts record sales as electric cars take off
2 years, 11 months ago

Tesla posts record sales as electric cars take off

The Telegraph  

Tesla has smashed its previous record for vehicle sales by delivering 308,600 cars in the fourth quarter. The stronger-than-expected results brought total sales in 2021 to 936,000, around 87pc higher than a year earlier. The figures are seen as a key measure of both the company’s strength and wider demand for electric vehicles, given Tesla’s leading position in the market. …

Tesla shares fall after Twitter users vote for Musk to sell stock
3 years, 1 month ago

Tesla shares fall after Twitter users vote for Musk to sell stock

The Hindu  

Tesla Inc shares fell 7.5% in premarket trading on Monday as investors prepared for its chief Elon Musk's proposed sale of about a tenth of his holdings in the electric-car maker following his Twitter poll. Musk, Tesla's chief executive officer and the world's richest person, tweeted on Saturday that he would offload 10% of his stock if users of the …

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