- Tesla is expected to report sluggish first-quarter deliveries next week as the boost from its price cuts wanes and the U.S. automaker grapples with strong competition for buyers in a slowing electric-vehicle market.
That is higher than the 422,875 units it handed over in the same quarter last year, but would mark a decline of more than 5% from the previous three months. "Teslas have the dubious honour of being the fastest-depreciating vehicles in the US," HSBC said in a report this week."We can see how cheaper works for consumables, but we are less convinced it works for consumer durables for which residuals are part of the cost equation."
Buyers in the U.S. have also been opting for less expensive hybrid vehicles, which are also more fuel efficient than gas-powered cars and provide greater driving range than battery-powered EVs.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla Trims Output of Cars in China Amid Slower EV Sales GrowthTesla has reduced its car production in China due to slower growth in electric vehicle sales.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Tesla Trims Output of Cars in China Amid Slower EV Sales GrowthTesla Inc. has reduced production at its plant in China, according to people familiar with the matter, amid sluggish growth in electric-vehicle sales and intense competition in the world’s biggest auto market.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Tesla Trims Car Output in China as EV Sales Growth Slows(Bloomberg) -- Tesla Inc. has reduced production at its plant in China, according to people familiar with the matter, amid sluggish growth in electric...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Tesla reduces production of EVs at China factory: BBGShares of Tesla (TSLA) are under pressure on Friday, following a Bloomberg report that the electric vehicle manufacturer will be scaling back production at...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Canadian living in China allegedly stole Tesla secrets: U.S. prosecutorsA Canadian resident of China has been arrested in the United States for allegedly stealing electric car manufacturer Tesla's trade secrets.
Source: GlobalCalgary - 🏆 50. / 61 Read more »
China vows to safeguard its territorial integrity after South China Sea incidentExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »