Tesla stock pops on plans to ramp up affordable car plans
by Yahoo Finance
Yahoo Finance— Tesla (TSLA) reported first quarter results that missed analyst estimates on both the top and bottom lines. Adjusted earnings per share of $0.45 fell short of the $0.52 Wall Street was expecting. Revenue of $21.3 billion fell short of the estimated $22.3 billion. Operating income also missed, $1.17 billion versus the $1.53 billion estimate. However, the company said it plans to accelerate the launch of new models, including a more affordable one. Yahoo Finance's Julie Hyman and Jared Blikre are...
ETtech.com—Tesla: Tesla's plan for affordable cars takes page from Detroit rivals. Elon Musk's new plan to use current product lines as the basis for new affordable vehicles - rather than springing for all-new models - follows the playbook of Tesla's old-school Detroit rivals, as some Tesla investors and analysts see it. The shift toward incremental improvement, mirroring a common strategy of Ford and General Motors, suggests the future of car-making that Musk has promised to disrupt may still look a lot like the past. Musk's new strategy followed an exclusive Reuters report...
MarketWatch—Tesla earnings: Stock surges as Musk says affordable EV still in Tesla's future. 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, while investing in robotaxis as well. These
The Guardian—How soon can Tesla get its more affordable car to the market?. Shares jump after carmaker says it is looking to accelerate production of lower-price EVsTesla sees biggest revenue drop since 2012 but shares still surgeElectric and hybrid car sales to rise to new global record in 2024Tesla’s plans to bring a more affordable electric vehicle to the market appear to have moved a step closer.On Tuesday, the company’s share price shot up by 12% after an update revealed the carmaker was hoping to accelerate the production of lower-priced EVs, with production of...