Tesla's Stock Plunge Raises Questions About Its Future as an Automaker
TL;DR Summary
Tesla's shares have experienced a decline due to CEO Elon Musk's cautious tone on delivery expectations and manufacturing difficulties, as well as the company's Q3 financial report falling below analysts' expectations. Tesla's price cuts have also impacted its profit margins. A comparison of gross and operating margins with other automakers shows a decline for Tesla, which was previously known for its high profit margins. It remains to be seen if other manufacturers will show similar declines in their upcoming quarterly results.
- Is Tesla starting to look like just any old carmaker? MarketWatch
- Elon Musk Loses $24 Billion After Tesla Stock Falls Roughly 9% Forbes
- Tesla (TSLA) tumbles after disastrous Elon Musk conference call Electrek
- EV companies take their foot off the gas as car costs soar Washington Examiner
- DAILY DRIVE PODCAST: October 19, 2023 Tesla profits drop in Q3; Possible path out of UAW strike Automotive News
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
6 min
vs 7 min read
Condensed
94%
1,322 → 81 words
Want the full story? Read the original article
Read on MarketWatch