Tesla, which has vowed to put winning market share ahead of profits, unveiled another round of U.S. price cuts for its flagship models.
shares moved lower in pre-market trading after the carmaker unveiled another round of price cuts following a weaker-than-expected tally for third quarter deliveries.
The move comes amid a concerted, and publicly-stated effort from founder and CEO Elon Musk to sacrifice profitability over gaining market share in the highly-competitive EV market. The cuts have taken their toll on Tesla's profit margins, however, which were pegged at 18.7% for the three months ending in June, down from the year-earlier tally of 22.4%.
"A sequential decline in volumes was caused by planned downtimes for factory upgrades, as discussed on the most recent earnings call. Our 2023 volume target of around 1.8 million vehicles remains unchanged," Tesla said in a statement.Tesla shares were marked 1.3% lower in pre-market trading to indicate an opening bell price of $256.66 each a move that would still leave the stock up more than 38% over the past six months.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Tesla Cuts Prices of Model 3, Model Y Vehicles in U.S.By Sherry Qin Tesla cut prices of its Model 3 and Model Y vehicles in the U.S The electric-vehicle company to $38,990 from $40,240, according to its website....
Leer más »
Tesla cuts Model 3 and Model Y prices in the U.S. after car deliveries fallThe starting price for the Model 3 is listed at $38,990 on Tesla’s website, down from $40,240 previously.
Leer más »
Tesla Cuts US Prices of Model 3, Model Y CarsTesla has cut prices of its Model 3 compact sedan and Model Y SUV in the U.S. by about 2.7% to 4.2% to stoke demand for its electric vehicles, days after the automaker fell short of third-quarter deliveries estimates.
Leer más »
Tesla slashes prices of Model 3, Models Y vehicles in USElon Musk-led Tesla (TSLA.O) on Friday cut prices for its Model 3 and Model Y vehicles in the U.S., according to the electric vehicle maker's website.
Leer más »
Tesla slashes prices of Model 3, Models Y vehicles in USTesla slashes prices of Model 3, Models Y vehicles in US
Leer más »
Tesla Launches New Base Model Y RWD In The U.S. Priced From $43,990Tesla's new entry-level version of the Model Y RWD has 260 miles of range and can hit 60 mph (96 km/h) in 6.6 seconds
Leer más »