OPINION: Elon Musk showed on Tesla’s earning call that he’s lost none of his swagger. But the growth outlook for the electric vehicle giant is shifting in subtle ways.
of the company and founder Elon Musk by veteran tech analyst Dan Ives.
And, as always, he delivered plenty of blue sky, suggesting that selling Tesla’s full self-driving technology to existing Tesla owners could result in “the biggest asset value increase of anything in history”.There was even a little market commentary, with Musk declaring that the US Federal Reserve ran a grave risk if it raised interest rates above the long-term rate of return of the S“So basically, the Fed is at risk of crashing the value of all equities,” Musk said.
But he also emphasised that the price cut had supercharged demand, with orders in early January running at twice the rate of production.“Thus far in January we’ve seen the strongest orders year-to-date … in our history,” Musk said, revealing that the company had actually slightly lifted prices on its Model Y vehicle in response. “We think demand will be good, despite probably a contraction in the automotive market as a whole.
Second, chief financial officer Zachary Kirkhorn said Tesla’s automotive gross profit margin, which slumped from 32.9 per cent in the March quarter of last year to 25.9 per cent in the December quarter, can hold above 20 per cent.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla makes record profit, despite price cuts, inflation and Elon MuskTesla made record profits last year, even as high interest rates slowed down the global economy and hurt consumer sentiment, but the company's boss, Elon Musk, is dismissing speculation the car maker cut prices because of slowing demand, saying demand for the vehicles has reached record highs.
Read more »
Twitter sued by crown estate over alleged unpaid rent on London HQSocial media platform abandoned its offices near Piccadilly Circus after Elon Musk takeover
Read more »
Tesla’s results, outlook represent Musk’s ‘moment of truth’: WedbushThe electric vehicle maker will report quarterly results on Thursday AEDT, a critical moment for Tesla and Elon Musk, says Wedbush Securities analyst Dan Ives.
Read more »
Tesla posts record quarterly earningsElon Musk’s EV maker reported a profit of nearly $US3.7 billion for the final three months of 2022, and warned of uncertain times ahead.
Read more »
Indian ban on BBC Modi film puts Musk’s Twitter ‘free speech’ vow to the testUse of emergency laws sheds light on fragile and fractious place social media such as Twitter now occupy in country
Read more »
Classic trans-Tasman battle sees Aussie Diamonds clinch seventh Quad Series victoryAnother Quad Series title and another success story for the Australian Diamonds, who have beaten their old rivals the Silver Ferns in a classic encounter.
Read more »