Tesla is slated to report earnings today and, as FT notes, investors are bracing for the 'worst results in 7 years' from the EV manufacturer. Analysts predict that Tesla will post revenues of $22.3 billion for Q1, representing a year-over-year decline of 4.4%. This anticipated drop in revenue aligns with poor Q1 delivery data, where deliveries decreased by 8.5% year-over-year, marking the first annual decline in deliveries since 2020.
Tesla reduced prices for the Model Y and 3 in China by 14,000 yuan $1,972 this Sunday. The new price for the entry Model Y is 249,900 yuan $35,194, and for the base Model 3, it's 231,900 yuan $32,659. Prices for the imported Model S and Model X have also been cut, starting at 684,900 yuan $96,457 and 724,900 yuan $102,090 respectively, with reductions of 15.3% and 19.4%.
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