How many more straws can you fit on an electric car company's back?
Further evidence of fading demand can be found in Tesla's offered discount to customers taking early delivery in late 2022, which apparently wasn't sufficient to give its numbers a needed year-end boost. Tesla is also likely to face increased pressure from Major US automakers like Ford and, which are investing heavily in electric vehicles, and at price points more affordable to the average consumer.
Dan Ives, an equity analyst and long-time Tesla bull, described Tesla's Q4 delivery numbers as"better than worst-case fears," but still not enough to keep optimistic investors happy. To make things worse, South Korean regulators fined Tesla $2.2 million today over allegations the company exaggerated the battery range of its vehicles.
Korean winters are harsh and cold, as your reporter can personally attest to. Such freezing temperatures cause the range on Teslas to plummet by up to 50 percent, the Korean Fair Trade CommissionThe US EV maker exaggerated driving range, cost-effectiveness compared to gasoline vehicles and the performance of its Superchargers, the KFTC said.
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Tesla reports record 1.3m deliveries for 2022However, Elon Musk's electric car maker missed Wall Street forecasts for the last three months of the year.
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Tesla deliveries fall short of Wall Street expectations\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
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Tesla says it delivered record 1.3 million vehicles in 2022However, Elon Musk's electric car maker missed Wall Street forecasts for the last three months of the year.
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Tesla says it delivered record 1.3 million vehicles in 2022However, Elon Musk's electric car maker missed Wall Street forecasts for the last three months of the year.
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Record output for Tesla but deliveries still below estimatesThe electric carmaker delivered 55,760 fewer vehicles than it produced in 2022.
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Tesla Stock Had the Worst Year Ever. It's Still Not CheapEven after this year’s 65% drop, Tesla's surge during 2020 and 2021 left it with stock-market value of $389 billion
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