Tesla’s first-quarter deliveries showed a 4% increase from the previous quarter, a sharp drop from the 17.8% sequential climb seen in the prior quarter.As rivals like Ford Motor increase competition domestically and Tesla strives to catch up with BYD in China, its second-largest market, many analysts are predicting further price cuts.April 15. “We’re just lowering prices to enable affordability at scale.
“There is plenty of demand for our products, but if the price is more money than people have, that demand is irrelevant,” he adderd. Wall Street expects the company’s auto gross margin to hit a more than three-year low of 23.2% for the first quarter, according to 17 analysts polled by Visible Alpha., but they still fell short of analyst expectations.
While its revenue is predicted to increase by 24.2% year-on-year to $23.29 billion, the average profit estimate by analysts has decreased by approximately 2.4% in the last three months, Refinitiv data shows. Spurred by consecutive price cuts, Tesla’s first-quarter sales grew by 36%, but they still fell short of analyst expectations.
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