Tesla Financial News

By Ankika Biswas and Johann M Cherian

By Aditya Soni

By Abhirup Roy

Tesla (NASDAQ:TSLA)'s CEO Elon Musk issued a warning on Wednesday, suggesting that Chinese automakers would “destroy” global competitors if trade barriers are eliminated.

Investing.com — U.S. futures traded in a muted fashion Thursday as investors digested a deluge of quarterly corporate earnings ahead of the release of key economic growth data.

Investing.com-- Most Asian stocks rose on Thursday, with Chinese markets extending a rebound after the government announced more monetary stimulus measures, while Japanese shares lagged as mixed cues from the Bank of Japan spurred more profit-taking.

Investing.com — U.S. stock futures are muted, with traders looking ahead to crucial economic figures and gauging a stream of company earnings. Tesla (NASDAQ:TSLA) warns that sales growth will be «notably lower» this year, while Chief Executive Elon Musk details plans to roll out a new, cheaper model in 2025. Elsewhere, Boeing (NYSE:BA) shares dip premarket after the U.S. aviation regulator bans the planemaker from expanding production of its best-selling MAX family of jets.

The S&P 500 has hit four new all-time highs in as many days. Wednesday’s rally ran into a bit of trouble late in the day, which saw the major indexes give back all or most of their earlier gains.

BENGALURU : Tesla tumbled more than 8% on Thursday after CEO Elon Musk warned sales growth would slow this year despite price cuts that have already hurt margins and raised investor concerns at the world's most valuable automaker. Musk said growth would be "notably lower" as Tesla focuses on a cheaper, next-generation electric vehicle to be made at its Texas factory in the second half of 2025, which is expected to spark the next boom in deliveries. But his remarks fell flat with investors, with Tesla set to lose more than $50 billion in market value, if premarket loss hold.

Stocks gained as an onslaught of positive earnings from technology companies reinforced the picture of a broadly robust corporate sector.   

Tesla reported lower fourth-quarter operating profits despite higher revenues Wednesday, following a series of auto price cuts as Elon Musk's electric vehicle giant warned of slower volume growth in 2024.

Tesla CEO Elon Musk said on Wednesday Chinese automakers will «demolish» global rivals without trade barriers, underscoring the heat the U.S. electric vehicle market leader faces from the likes of BYD, who are racing to expand worldwide. Musk's comments come after Warren Buffett-backed BYD — with its cheaper models and a more varied lineup -overtook Tesla as the world's top-selling EV company last quarter, despite Tesla's deep price cuts through 2023. Chinese car companies were the «most competitive» and «will have significant success outside of China, depending on what kind of tariffs or trade barriers are established,» Musk said on a post-earnings call with analysts on Wednesday. «If there are no trade barriers established, they will pretty much demolish most other car companies in the world,» he said.

Tesla expects to start production of its long-anticipated, next-generation electric vehicle at its Texas factory in the second half of 2025, Chief Executive Elon Musk said on Wednesday. But Tesla shares were down 6.5% in premarket trading as Musk noted that ramping up production of the new vehicle would be challenging and Tesla also warned of sharp slowdown in sales growth this year before the new model launch. Musk said it would take «a tremendous amount of new revolutionary manufacturing technology» required — a sign that any boost to Tesla's declining pace of growth would take time. His projection followed a Reuters story earlier in the day saying Tesla had told suppliers to prepare for a June 2025 startup of a smaller crossover vehicle, critical for the automaker as it loses share to inexpensive EVs such as those made by China's BYD.

After-Hours Stock Movers:

Tesla’s net income more than doubled last quarter due to a one-time tax benefit, even as electric vehicle price cuts and slowing sales growth cut into its profits

Investing.com — Tesla reported Wednesday fourth-quarter results that missed Wall Street estimates and the electric vehicle warned of annual production growth will be «notably» slower this year amid a weaker backdrop for electric vehicle demand.   

(Reuters) — Tesla (NASDAQ:TSLA) on Wednesday reported a fall in fourth-quarter gross margin from a year earlier as it cut prices and offered incentives to boost demand for its electric vehicles.

While high-flying tech stocks keep pushing the market to new all-time highs, Tesla (NASDAQ:TSLA) remains yet to see sunny days in 2024. The behemoth EV maker is down 15.8% in the year, underperforming the Nasdaq 100 and the S&P 500 by a hefty margin.

Tesla (NASDAQ:TSLA) has informed its suppliers of plans to commence production of a new mass-market electric vehicle, codenamed «Redwood,» by mid-2025, as reported by Reuters on Wednesday, citing four individuals familiar with the matter, with two sources describing the model as a compact crossover.

Investing.com — U.S. futures rose Wednesday, boosted by generally positive corporate results as the quarterly earnings season kicks into top gear.

Investing.com — U.S. stock futures traded higher Wednesday, boosted by strong results from streaming giant Netflix as the quarterly earnings season kicks into top gear.