Tesla

Tesla Reducing The Prices Of Its Bestselling EV Models

Buy Tesla’s Bestselling EV Cars At 20% Less Price In The US And Europe

Tesla will reduce the price of its best-selling electric vehicle (EV) models in the coming days. The electric car maker said that the prices of its cars would be dropped up to 20% in the US and Europe.

HIGHLIGHTS

• Tesla announced a price cut of up to 20% on its best-selling EV models for the US and Europe
• The price cut is announced amid the tough competition Tesla is facing in the growing EV market

Why Is Tesla Reducing The Prices Of Its Bestselling EV Models?

Tesla started a price war with rivals, especially GM and Ford to retain its market share in the EV market. The price cut was announced on Friday and it had its impact on Tesla shares which fell as much as 4.5% in early trading on Friday. Though some were recovered later in the day. But overall Tesla’s shares have plummeted for more than a year.

Tesla Reducing The Prices Of Its Bestselling EV Models

What Do Experts Say About Tesla’s Price Cut?

The Wall Street Journal said in a report that the discount made that possible for buyers of Tesla’s US-built Model Y to take advantage of a tax credit in the US by bringing the price of the car below a $55,000 cap.

But Analyst Dan Ives of Wedbush Securities has a different opinion on Tesla. He said that that was no secret that demand for Tesla was starting to see some cracks in the global slowdown for 2023.

Dan Ives called the price cut the “right move” and “a clear shot across the bow at European automakers and US stalwarts (GM and Ford) that Tesla was not going to play nice in the sandbox.

Source:- https://bit.ly/3ZM9aDw

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Elon-Musk-Has-Hope

Tesla Delays Launch Of New Models Amid Supply Chain Woes

While rising demand for electric vehicles has increased Tesla’s profit to a record $5.5 billion in 2021, the electric carmaker calls it a bigger feat as it made 87% deliveries and scored a 71% ($53.8 billion) rise in revenues despite the global semiconductor shortage.

No Immediate Relief From Supply Chain Woes To Tesla

No Immediate Relief From Supply Chain Woes To Tesla

In a press release, Tesla stated that the company planned to boost production to achieve the target of 50% annual growth. But it maintained that the stability of the supply chain would play a crucial role in the growth.

Tesla’s press release further stated that their factories had been running below capacity due to supply chain anomaly and that the problem would continue in 2022.

Elon Musk Has Hope

Elon Musk Has Hope

Musk said that the new semiconductor capacity could plug the demand and supply gap by the end of 2022 or early 2023. But he also hinted at other issues that could surface in 2022. Elon Musk was speaking to analysts and investors during a conference call.

No New Products This Year

Elon Musk's Tesla Rides

The decision to roll out new products has to be deferred due to supply chain issues. But the company would work on its electric pickup “Cybertruck” for its possible launch in 2023. Musk added that had the company added new models in 2021, that would have resulted in lower production. About the $25,000 electric vehicle that Musk had previously discussed, he said that the product was not in the new models.

New Factories

Tesla is busy ramping up its facilities in California and Shanghai. Also, the work in new factories in Germany and Texas is going in a full swing. In 2021, the company started making Model Y vehicles in Texas and … Read the rest

Elon-Musk-Help-Etsy-Shares

How Did Elon Musk Help Etsy Shares?

In what was just another incident of wild, speculative trading in stock market, Etsy witnessed a huge jump in its share. Its stock recorded a 9% increase in premarket trading after Tesla chief Elon Musk tweeted to favor Etsy.

What did Elon Musk tweet?

I kinda love Etsy was all Elon Musk had to say about the ecommerce giant. And this tweet sent Etsy shares in ascending mode. The e-commerce company that recorded little growth in premarket prior to Musk’s tweet saw its shares moving up soon after the tweet was published. According to experts, the tweet could help Etsy achieve the highest spot in the S&P 500 when markets open.

What is the effect musk’s tweet?

Elon Musk is no stranger to investors and he has a history of influencing stock prices especially about Tesla. He uses bold statements on the social media to make his company’s share jump and investors take his opinions seriously. It is exactly what happened with Etsy shares that saw a big jump following Musk’s tweet.

What did Musk say last year?

In a similar incident last year, Elon Musk sent Tesla shares high. He simply made a statement that Tesla stock was “too high” and his simple observation about Tesla sent its shares even higher a week later.

About Etsy

Etsy shares saw 313% increase in the past 12 months as the ecommerce website emerged victorious in the pandemic time. It helped small and medium businesses connect with their customers during lockdown period when most companies were shut for business.

Source:- https://nbcnews.to/2KPTduaRead the rest