Tesla

The start of the year hasn’t been great for electric-vehicle enthusiasts. The cold in Chicago stranded some unlucky EV drivers. Tesla has cut prices in China and Europe. Ford Motor is scaling back production of its F-150 Lightning electric truck in the U.S. Worst of all, the stocks of EV producers have just been terrible in January, and Friday trading is no exception. Tesla stock was down 1.6% in midday Friday trading at $208.51. That’s left shares down 16% so far in January. The S&P 500 and Nasdaq Composite were up 0.5% and 0.6%, respectively. Tesla is on the cusp of an ignominious record. If shares clos lower on Friday, it will be the 10th trading day of losses out of the first 12 — the worst start of any year in Tesla’s history. Shares fell nine out of the first 12 trading days to start 2015 and 2016. Still, […]

By Emily Bary Wells Fargo automotive analyst says Tesla ‘screens the most at risk’ this earnings season, and he sees various challenges for the year ahead Tesla Inc. is about to offer investors some hints of what’s to come, and one analyst thinks Wall Street should brace for “growing pains.” Wells Fargo analyst Colin Langan expects about 13% growth in Tesla (TSLA) deliveries next year, below the company’s 50% long-term target. The year already hasn’t gotten off to a great start for the electric-vehicle company, which has cut prices in China and paused production in Germany. “There are also macroeconomic headwinds around elevated interest rates& flattening EV adoption,” Langan wrote in a Tuesday note to clients. “Additionally, there are signs of moderating growth in all three key regions.” Tesla is expected to share more about the landscape, and its outlook for the year, when it reports earnings next Wednesday afternoon.

Tesla (TSLA) has lowered prices of its Model Y cars in Germany, according to media reports on Wednesday. Prices of Model Y Long Range and Model Y Performance were slashed by 5,000 euros to 49,990 euros ($54,309) and 55,990 euros, respectively, the reports said. Model Y rear-wheel drive models were also reduced by 1,900 euros to 42,990 euros. The cuts came a week after the EV made similar cuts to Model 3 and Model Y vehicles last week. Tesla did not immediately respond to MT Newswires’ request for comment. Tesla reportedly posted a 9% decline in new registrations to 63,685 vehicles in Germany last year, Reuters reported, citing German government figures. The US EV maker lost its rank as top EV seller Germany to Volkswagen, which now has a market share of nearly 14% against Tesla’s 12%. Shares of the company were down 2.2% in recent premarket activity.

By Brian Swint and Al Root Tesla lowered prices for its Model Y electric vehicles in Germany a week after it made similar reductions in China. That isn’t good news for the stock. Tesla cut the price of its Model Y Long Range and Model Y Performance by EUR5,000 (or about $5,400) on its website. That’s more than 8% lower than it was last week. The cheaper Model Y rear-wheel drive version got a discount of 4%. Model Y and Model 3 prices this past week were reduced between 3% and 6% in China. The base version of the Model Y crossover vehicle in China now starts at about $36,000, down from about $37.000. The base Model 3 starts at about $34,500, down from $36,500. Shares dropped 3.7% after the Chinese price cuts. Telsa stock was down 1.5% in premarket trading Wednesday while S&P 500 and Nasdaq Composite futures were

By Mauro Orru Elon Musk said he feels uncomfortable making Tesla a leader in artificial intelligence and robotics without having about 25% voting control of the electric-car maker. Musk said late Monday in a post on X that he wants enough control at Tesla to be influential, but not so much that he couldn’t be overruled. “Unless that is the case, I would prefer to build [AI] products outside of Tesla,” Musk wrote on the social-media platform. The billionaire currently controls about 13% of Tesla, according to FactSet, having previously sold some of his holding in the company to fund his purchase of what was then called Twitter. Tesla shares were down more than 2% in premarket trading Tuesday. The company didn’t immediately respond to a request for comment. Some investors have long been excited about Tesla’s work and plans for deploying AI with driverless cars and humanoid robots. In

Wedbush analyst Daniel Ives reiterates Tesla (NASDAQ:TSLA) with a Outperform and maintains $350 price target.

The United Auto Workers Union’s record wage increases from the Detroit-Three auto makers went into effect in November amid cries about coming car price inflation. It’s early, but auto workers’higher pay has, essentially, shown no impact on new car prices. Recent pricing trends hold some important information for both investors and the UAW, about pricing, profits, and how the car industry works. Kelly Blue Book, on Thursday, updated U.S. new car pricing for December. The average transaction price came in at $48,759. That’s up from the $48,247 average transaction in November but down 2.4% year over year. The December 2022 average transaction price of $49,507 was an all-time high. The rise in prices in December 2023 from November reflect some seasonal factors, as prices typically rise at the end of the year. What’s more, December marks the fourth consecutive month of year-over-year declines, which is “unique,” according to Kelly Blue

Tesla (TSLA) has dropped the prices of its China Model 3 to 245,900 Chinese renminbi ($34,303) and Model Y to 258,900 renminbi, media reports said Friday, citing the company’s website. Tesla did not immediately respond to MT Newswires’ request for comment. Shares of the company were down 3.2% in recent Friday premarket activity.

Tesla (TSLA) has notified production workers that it is raising pay across its US factories, Bloomberg reported Thursday, citing a flyer posted at the automaker’s facility in Fremont, California. According to the report, the flyer states that the company is making a “market adjustment pay increase” for all US production associates, material handlers and quality inspectors but it did not mention how much of a raise they will get. Tesla’s senior director of human resources didn’t respond to questions, Bloomberg said.

Tesla’s (TSLA) vehicle deliveries rose above analysts’ expectations in the fourth quarter and jumped on a sequential basis, while Wedbush Securities said the electric vehicle maker likely notched a record quarter in China. The company said Tuesday it delivered 484,507 vehicles for the December quarter, compared with projections on Visible Alpha for about 481,300 units. It produced about 494,989 vehicles during the quarter, above the forecast for 474,400 units. “Tesla announced solid deliveries,” Wedbush analysts including Daniel Ives said in a note reiterating an outperform rating and a $350 price target on the stock. While production was in line with Wedbush’s expectations, some analysts were expecting north of 500,000, “showing strong inventory controls in the quarter,” Ives said. Tesla reported 461,538 deliveries of the Model 3 and Model Y during the quarter, which the brokerage called strong. “China [was] a clear area of success this quarter in what we believe

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We maintain a 12-month price target of $300, on a 2025 P/E of 48x, justified by long-term growth expectations. Our estimates are unchanged. On Tuesday, TSLA reported Q4 deliveries of 484,507 vehicles, slightly ahead of the 480,483 consensus and our estimate of 479,000. Production totaled 494,989 vehicles. For the full year, vehicle deliveries grew 38% Y/Y to 1.81M units, while production rose 35% to 1.85M, meeting company guidance. TSLA will report Q4 earnings the afternoon of January 24, and we expect the focus of the release to be on any guidance related to 2024. We view the upcoming release as positive and remain bullish on TSLA even after the stock’s stellar performance in 2023, expecting the company to benefit from declining unit costs (particularly plummeting battery costs)

In the fourth quarter, we produced approximately 495,000 vehicles and delivered over 484,000 vehicles. In 2023, vehicle deliveries grew 38% YoY to 1.81 million while production grew 35% YoY to 1.85 million. Thank you to all of our customers, employees, suppliers, shareholders and supporters who helped us achieve a great 2023. Q4 2023 Production Deliveries Subject to operating lease accounting Model 3/Y 476,777 461,538 2% Other Models 18,212 22,969 3% Total 494,989 484,507 2% 2023 Production Deliveries Model 3/Y 1,775,159 1,739,707 Other Models 70,826 68,874 Total 1,845,985 1,808,581 Tesla will post its financial results for the fourth quarter of 2023 after market close on Wednesday, January 24, 2024. At that time, Tesla will issue a brief advisory containing a link to the Q4 and full year 2023 update, which will be available on Tesla’s Investor Relations website. Tesla management will hold a live question and answer webcast that day at