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Tesla Shares Drop 6% Premarket on Earnings Miss and Warning of Volume Growth Decline This Year

Tesla on Wednesday warned of a notable slowdown in its vehicle sales growth this year, and reported a fall in fourth-quarter gross margin as it cut prices and offered incentives to boost demand."In 20

Tesla Shares Drop 6% Premarket on Earnings Miss and Warning of Volume Growth Decline This Year

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Sell while you still can..","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/266913214595160","repostId":1117310021,"repostType":2,"repost":{"id":"1117310021","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1706173207,"share":"https://www.laohu8.com/m/news/1117310021?lang=&edition=full","pubTime":"2024-01-25 17:00","market":"us","language":"en","title":"Tesla Shares Drop 6% Premarket on Earnings Miss and Warning of Volume Growth Decline This Year","url":"https://stock-news.laohu8.com/highlight/detail?id=1117310021","media":"Tiger Newspress","summary":"Tesla on Wednesday warned of a notable slowdown in its vehicle sales growth this year, and reported a fall in fourth-quarter gross margin as it cut prices and offered incentives to boost demand.\"In 20","content":"<html><head></head><body><p>Tesla on Wednesday warned of a notable slowdown in its vehicle sales growth this year, and reported a fall in fourth-quarter gross margin as it cut prices and offered incentives to boost demand.</p><p>&#34;In 2024, our vehicle volume growth rate may be notably lower than the growth rate achieved in 2023, as our teams work on the launch of the next-generation vehicle at Gigafactory Texas,&#34; it said in a statement.</p><p>Shares of the Austin, Texas-based company were down 6 per cent in premarket trading on Thursday.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/63fcdc98364b46718667a2559072fe48\" tg-width=\"790\" tg-height=\"622\"/></p><p>The company reported a gross margin of 17.6 per cent for the three months ended December, compared with 23.8 per cent a year earlier, and analysts&#39; average estimate of 18.3 per cent.</p><p>In the third quarter, Tesla posted gross margin of 17.9 per cent.</p><p>Automotive gross margin, excluding regulatory credits - a closely watched figure - dropped to 17.2 per cent from 24.3 per cent a year earlier, although it improved from 16.3 per cent in the third quarter.</p><p>Tesla said lower raw material costs and U.S. government credits helped lower cost-per-vehicle, but Cybertruck production and AI and other research projects increased costs.</p><p>On an adjusted basis, Tesla earned 71 cents per share in the fourth quarter, missing an average analysts&#39; estimate of 74 cents.</p><p>Record deliveries in the quarter also pushed margins lower, as price cuts and costs associated with the production ramp-up of the new Cybertruck offset lower costs of raw materials for batteries.</p><p>Tesla slashed prices throughout last year. 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it said in a statement.</p><p>Shares of the Austin, Texas-based company were down 6 per cent in premarket trading on Thursday.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/63fcdc98364b46718667a2559072fe48\" tg-width=\"790\" tg-height=\"622\"/></p><p>The company reported a gross margin of 17.6 per cent for the three months ended December, compared with 23.8 per cent a year earlier, and analysts&#39; average estimate of 18.3 per cent.</p><p>In the third quarter, Tesla posted gross margin of 17.9 per cent.</p><p>Automotive gross margin, excluding regulatory credits - a closely watched figure - dropped to 17.2 per cent from 24.3 per cent a year earlier, although it improved from 16.3 per cent in the third quarter.</p><p>Tesla said lower raw material costs and U.S. government credits helped lower cost-per-vehicle, but Cybertruck production and AI and other research projects increased costs.</p><p>On an adjusted basis, Tesla earned 71 cents per share in the fourth quarter, missing an average analysts&#39; estimate of 74 cents.</p><p>Record deliveries in the quarter also pushed margins lower, as price cuts and costs associated with the production ramp-up of the new Cybertruck offset lower costs of raw materials for batteries.</p><p>Tesla slashed prices throughout last year. It reduced the price of the Model Y, its most popular vehicle, by as much as 26.5 per cent in the past year in the U.S.</p><p>The company managed to hit its 2023 deliveries target of 1.8 million cars, even as CEO Elon Musk warned of a hit to demand from high interest rates. However, Tesla lost its spot as the top EV maker by sales to China&#39;s BYD in the fourth quarter.</p><p>Tesla&#39;s fourth-quarter revenue rose 3 per cent to $25.17 billion, which marked its slowest pace of growth in more than three years. Analysts on average expected $25.62 billion.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117310021","content_text":"Tesla on Wednesday warned of a notable slowdown in its vehicle sales growth this year, and reported a fall in fourth-quarter gross margin as it cut prices and offered incentives to boost demand.\"In 2024, our vehicle volume growth rate may be notably lower than the growth rate achieved in 2023, as our teams work on the launch of the next-generation vehicle at Gigafactory Texas,\" it said in a statement.Shares of the Austin, Texas-based company were down 6 per cent in premarket trading on Thursday.The company reported a gross margin of 17.6 per cent for the three months ended December, compared with 23.8 per cent a year earlier, and analysts' average estimate of 18.3 per cent.In the third quarter, Tesla posted gross margin of 17.9 per cent.Automotive gross margin, excluding regulatory credits - a closely watched figure - dropped to 17.2 per cent from 24.3 per cent a year earlier, although it improved from 16.3 per cent in the third quarter.Tesla said lower raw material costs and U.S. government credits helped lower cost-per-vehicle, but Cybertruck production and AI and other research projects increased costs.On an adjusted basis, Tesla earned 71 cents per share in the fourth quarter, missing an average analysts' estimate of 74 cents.Record deliveries in the quarter also pushed margins lower, as price cuts and costs associated with the production ramp-up of the new Cybertruck offset lower costs of raw materials for batteries.Tesla slashed prices throughout last year. It reduced the price of the Model Y, its most popular vehicle, by as much as 26.5 per cent in the past year in the U.S.The company managed to hit its 2023 deliveries target of 1.8 million cars, even as CEO Elon Musk warned of a hit to demand from high interest rates. However, Tesla lost its spot as the top EV maker by sales to China's BYD in the fourth quarter.Tesla's fourth-quarter revenue rose 3 per cent to $25.17 billion, which marked its slowest pace of growth in more than three years. 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