The automaker has posted its first yearly drop in sales since the onset of the pandemic, CNN reports.
.
The company reportedly built
433,000 units but only delivered 387,000.
That's significantly less than the 484,507 vehicles
it delivered in the last three months of 2023.
Tesla shares fell 5% on April 1.
.
Tesla partially attributed the sales
drop to increased production of the
updated Model 3 at its factory in Fremont.
The company also cited factory shutdowns caused by ships being diverted from the Red Sea because of attacks by Iran-backed Houthi militants, CNN reports.
The company also cited factory shutdowns caused by ships being diverted from the Red Sea because of attacks by Iran-backed Houthi militants, CNN reports.
Additionally, its factory in Germany shut down for a week because of an arson attack.
.
Increased competition from brands such as
China's BYD have also impacted sales, CNN reports.
.
Increased competition from brands such as
China's BYD have also impacted sales, CNN reports.
.
Wedbush Securities analyst Dan Ives
referred to Tesla demand in China as
"very soft coming out of the gates for 2024.".
While we were anticipating a bad first
quarter, this was an unmitigated
disaster that is hard to explain away, Wedbush Securities analyst Dan Ives, via note to clients.
We view this as a seminal moment
in the Tesla story for Musk to either
turn this around and reverse the
black eye first quarter performance.
, Wedbush Securities analyst Dan Ives, via note to clients.
Otherwise, some darker days could
clearly be ahead that could disrupt
the long-term Tesla narrative, Wedbush Securities analyst Dan Ives, via note to clients
Elon Musk , Loses Appeal of , 'Twitter Sitter' Provision .
On April 29, the Supreme Court denied billionaire
Elon Musk's challenge to the terms of a Securities
and Exchange Commission agreement. .
On April 29, the Supreme Court denied billionaire
Elon Musk's challenge to the terms of a Securities
and Exchange Commission agreement. .
NBC reports that the SEC requirement
would require a lawyer to review
the Tesla CEO's social media posts. .
In his appeal, Musk argued that the SEC's requirement,
which has been dubbed the 'Twitter sitter' provision,
unlawfully imposed conditions on his freedom to comment. .
In his appeal, Musk argued that the SEC's requirement,
which has been dubbed the 'Twitter sitter' provision,
unlawfully imposed conditions on his freedom to comment. .
The SEC requirement stems from Musk's tweets in 2018 that
claimed he was taking Tesla private, which shocked the
market and caused shares in the company to surge.
The SEC requirement stems from Musk's tweets in 2018 that
claimed he was taking Tesla private, which shocked the
market and caused shares in the company to surge.
The SEC deemed the tweets
"materially false and misleading,"
and in clear violation of securities laws.
At the time, Musk agreed to settle the issue
with the SEC, which included his signing off
on the so-called "Twitter sitter" provision.
NBC reports that Musk has since said
the restrictions are unconstitutional and that
he was coerced into signing the SEC agreement.
According to court papers, lawyers
representing Musk have accused the SEC
of waging an "ongoing campaign" against Musk.
Musk's legal team claim the provision , "restricts Mr. Musk’s speech even
when truthful and accurate.".
It extends to speech not
covered by the securities laws
and with no relation to the conduct
underlying the SEC’s civil action, Elon Musk legal team, via NBC.
In response, the SEC said in court papers
that Musk waived his right to appeal
when he signed off on the settlement.
Credit: Wibbitz Top Stories Duration: 01:31Published
Musk is viewed in China as a favourable contrast to the stern statements from US officials, particularly during the recent visit by US Secretary of State Antony Blinken.
Credit: euronews (in English) Duration: 00:50Published
Elon Musk, CEO of Tesla, has deferred his visit to India to meet with Prime Minister Narendra Modi, attributing the delay to pressing commitments at Tesla. Musk expressed his intention to reschedule the visit for a later time this year. "Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year," Musk posted on his X account.
#ElonMusk #Tesla #IndiaVisit #TeslaObligations #ElectricVehicles #GlobalExpansion #TeslaIndia #BusinessTravel #TechNews #Innovation
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Elon Musk weighs in on the escalating tensions between Israel and Iran with a surprising proposal for peace. Explore his unconventional approach and its implications in our latest coverage.
#ElonMusk #IranIsrael #IranIsraelTensions #IsraelAttacksIran #IranAttacksIsrael #TeslaCEO #Tesla #BenjaminNetanyahu #AliKhamenei #Oneindia
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6 Tips, for First-Time Investors.
1. Do not put all your
money into one company.
Just because Tesla leads the electric car market
right now, it does not mean it will be this way forever.
2. Avoid paying too much attention
to pundits on television.
Wells Fargo Adviser Scott Pedvis says a big
mistake is taking what others say "as gospel.".
3. Start as early as you can.
The earlier you begin, the more
time investments have to develop.
4. Enroll in a 401k plan
at your job, if possible.
A 401k is an excellent way to store money for when you eventually retire.
5. Do not be afraid
to ask for help.
A lot of investing can be done independently,
but not everything in your life can be do-it-yourself, Scott Pedvis, via 'USA Today'.
6. Put money into your investments on
a predetermined date each month.
It forces you to save,
and takes the emotion
out of investing, Scott Pedvis, via 'USA Today'
Credit: Wibbitz Top Stories Duration: 01:30Published
On Monday, external affairs minister S Jaishankar emphasized that India's significant deployment of naval vessels to protect shipping routes amidst Houthi.. IndiaTimes
In a daring rescue operation, the Indian Navy saves a Panama-flagged ship, predominantly manned by 22 Indian crew members, from the clutches of Houthi rebels amidst escalating maritime tensions. Stay updated with the latest developments in this ongoing series of drone and missile strikes.
#IndianNavy #IndianNavyRescue #Houthis #HouthiRebels #outhiAttacks #PanamaFlaggedShip #RedSea #RedSeaCrisis #RedSeaAttacks #IsraelHamasWar #INSKochi #Yemen #Oneindia
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In the latest escalation, Yemen's Houthi rebels strike once more, damaging an oil tanker and downing a US drone amid tensions over Israel's offensive in Gaza. Stay updated with the latest developments in this volatile situation.
#RedSeaCrisis #RedSeaAttacks #Houthis #HouthisvsIsrael #UKOilTanker #USDrone #IsraelHamasWar #BanjaminNetanyahu #Gaza #GazaHumanitarianCrisis #Oneindia
~PR.274~ED.101~GR.122~HT.96~
Indian warship, INS Kochi on Sunday responded to the maritime security incident involving an attack on a Panama-flagged crude oil tanker, MV Andromeda Star PM... IndiaTimes
Yemen's Houthi rebels claimed responsibility for striking the Andromeda Star oil tanker in the Red Sea, part of their solidarity with Palestinians amid the Gaza conflict. The ship sustained damage, confirmed by Ambrey. Recent attacks on commercial vessels raise concerns of regional destabilization. The USS Dwight D. Eisenhower's departure from the Red Sea coincided with heightened tensions.
#Yemen #HouthiRebels #Palestine #GazaConflict #HouthiAttacks #RedSeaAttacks #Israel #Gazawar #Worldnews #MiddleEastnews #Oneinda #Oneindia news
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Suspended JD(S) MP Prajwal Revanna returning from Germany to face SIT investigations on sex scandal in Hassan. Amit Shah criticizes Congress in Hubballi rally.. IndiaTimes
In this episode of Real Economy, Euronews reporter, Fanny Gauret, travels to Recklinghausen, Germany, to meet two young women who signed up to the EU's ALMA programme and as a consequence, have a bright future ahead of them.
Credit: euronews (in English) Duration: 08:00Published
Center-Right CDU/CSU in Germany leads the voting intentions, as the far-right gets a boost by the electorate. The AfD overtakes the Social-Democrats, according to the Euronews Poll Center
Credit: euronews (in English) Duration: 02:12Published
Berlin argued that it has barely exported any weapons to Israel since the offensive against Gaza started following Hamas' deadly incursion into southern Israel on 7 October.
Credit: euronews (in English) Duration: 02:14Published
Elon Musk found himself in the crosshairs of controversy once again as he clashed with Australian authorities over content censorship on his platform, X. The dispute stemmed from a court order instructing X to remove video posts depicting a violent incident involving an Assyrian bishop. Musk, known for his outspoken nature, accused Australian leaders of attempting to stifle internet freedom, drawing condemnation from lawmakers.
#ElonMusk #AnthonyAlbanese #ElonMuskVsAustralia #XStabbingPosts #PostCensorship #Australia #SenatorTargeted #XDispute #SydneyChurchStabbing #CensorshipBattle #GunLawsDebate #InternetFreedom #ContentRegulation #LegalChallenge
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Australia's prime minister said Elon Musk is an "arrogant billionaire who thinks he is above the law" over his reluctance to remove footage of last week's Church.. Sky News