Tesla CEO Elon Musk failed to address investors’ concerns about price cuts in “another train wreck of a conference call” this week, Wedbush analyst Dan Ives told clients in a research note Thursday. Ives slashed his 12-month stock price target for Tesla by 10% to $315, which still implies about 52% upside from Wednesday’s close. … Read more
Elon Musk speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center on November 29, 2023 in New York City. Slaven Vlasic | Getty Images Elon Musk said Chinese electric auto makers will find “significant” success outside of China, even as his firm, Tesla, faces intense competition from these same … Read more
BURBANK, CALIFORNIA – JANUARY 16: Tesla electric cars are parked at a Tesla dealership on January 16, 2024 in Burbank, California. Carbon emissions fell by about 1.9 percent in 2023, a positive signal, but further cuts must be implemented if the U.S. hopes to achieve its climate goal of 50 percent emissions cuts by 2030. … Read more
Tesla’s stock faces plenty of downside as the automaker’s strategy of slashing vehicle prices eats into profits without translating into substantially higher revenue, according to JPMorgan. Analyst Ryan Brinkman cut JPMorgan’s stock price target for Tesla through December 2024 by about 4% to $130, which would imply about 30% downside from Thursday’s close of $182.63. … Read more
Chevrolet Cruise autonomous vehicles sit parked in a lot in San Francisco, June 8, 2023. Justin Sullivan | Getty Images News | Getty Images Culture issues, ineptitude and poor leadership at General Motors’ Cruise autonomous vehicle unit were at the center of regulatory oversights and coverup concerns that have plagued the company since October, according … Read more
Tesla and SpaceX’s CEO Elon Musk reacts during an in-conversation event with British Prime Minister Rishi Sunak in London on Nov. 2, 2023. Kirsty Wigglesworth | Reuters Tesla shares tumbled more than 9% Thursday, a day after the company reported earnings that missed expectations and warned of a slowdown in 2024. Tesla reported revenue and … Read more
Elon Musk, CEO of Tesla, speaks at the Atreju political convention organized by Fratelli d’Italia (Brothers of Italy) in Rome, Italy, on Dec. 15, 2023. Antonio Masiello | Getty Images Tesla reported revenue and profit for the fourth quarter that missed analysts’ estimates as automotive revenue increased just 1% from a year earlier. The stock … Read more
The front seats of the Aito M9 SUV can be adjusted to create reclining chairs for the second row. Passengers can watch a movie on the roll-down projector screen while storing drinks in a refrigerator compartment. CNBC | Evelyn Cheng BEIJING — Hot competition in China’s electric car market is pushing local automakers to sell … Read more
The total addressable market for new and used car sales in the U.S. is estimated to be somewhere between $2.5 trillion and $3 trillion, according to the National Automobile Dealers Association. And e-commerce behemoth Amazon is attempting to do what insiders say no one has been able to do yet: bring a seamless online shopping … Read more
A BYD Seagull small electric car is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai) Vcg | Visual China Group | Getty Images DETROIT — Chinese automakers pose a growing threat to their American counterparts — even without selling directly to consumers in the U.S. … Read more
