Shares in Elon Musk’s Tesla plunged 10 per cent after the electric car maker cut prices and missed production targets.
It built 86,555 vehicles in the fourth quarter, including 61,394 of its flagship Model 3 sedans.
But that was little improvement on its previous rate of 5,000 Model 3s per week.
Elon Musk's firm Tesla built 86,555 vehicles in the fourth quarter, including 61,394 of its flagship Model 3 sedans
At the same time, Tesla said it would cut the prices of its Model S, Model X and Model 3 by about £1,590 because tax credits for electric vehicles are due to end in the US.
The announcements spooked investors and sent shares plunging by as much as 10 per cent in early trading.
Nicholas Hyett, an analyst at Hargreaves Lansdown, said: ‘For most automotive groups these would be very impressive numbers.
‘But unfortunately for Tesla shareholders, the market has come to expect Herculean achievements, and sometimes that means the bar is just that little bit too high.
Longer-term we think the price cut is more concerning. It suggests customers are perhaps a bit more price-sensitive than you might have thought.’
At current delivery rates, Tesla’s reductions would cost it more than £550million in 2019, he said.
Tesla boss Musk is under intense pressure to deliver on production promises, with the Model 3 billed as its first mass market vehicle and its path to profitability.
But the car maker is now also grappling with the phasing out of tax credits in the US which made buying electric vehicles less expensive.
Since Tuesday the relief has been halved and will be halved every six months until it disappears.
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https://hienalouca.com/2019/01/03/tesla-shares-slam-into-reverse-after-electric-car-makers-price-cuts-and-missed-production-targets/
Main photo article Shares in Elon Musk’s Tesla plunged 10 per cent after the electric car maker cut prices and missed production targets.
It built 86,555 vehicles in the fourth quarter, including 61,394 of its flagship Model 3 sedans.
But that was little improvement on its previous rate of 5,000 Model 3s per w...
It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.
Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.
Dianne Reeves US News HienaLouca
https://i.dailymail.co.uk/i/newpix/2019/01/02/20/0683C405000007D0-0-image-a-1_1546460379239.jpg
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