Prepare for an electrifying unveiling as Tesla, the vanguard of the electric vehicle revolution, gears up to showcase its latest achievements in a post-bell earnings call on Tuesday.
**Earnings Expectations**
Analysts anticipate Tesla to report:
- Earnings per share: 51 cents
- Revenue: .15 billion
**Market Headwinds**
While Wall Street projects revenue to decline by 5.1% from last year’s .33 billion, marking the first year-over-year sales dip since the pandemic, Tesla’s shares have also endured a 42% plunge this year. This downtrend stems from concerns over sluggish deliveries, fierce competition in the Chinese market, and aggressive price wars.
**Competition and Price Cuts**
Tesla faces intensifying competition globally. The once-scorching demand for electric cars has cooled, leading to sluggish sales growth. In response, Tesla and its rivals have engaged in a cycle of price cuts to stimulate consumer interest.
**Restructuring and Workforce Cuts**
In March, Tesla announced a major restructuring that witnessed two top executives resigning. CEO Elon Musk subsequently confirmed companywide layoffs affecting over 10% of its workforce.
**Pivot to Self-Driving Technology**
Following a report suggesting Tesla’s low-cost electric car plans were shelved, Musk emphasized the company’s focus on self-driving technology. He has promised an unveiling of a Tesla robotaxi on Aug. 8, 2024, but cautioned that such unveils do not equate to immediate production.
**Shareholder Queries**
Ahead of the earnings call, shareholders submitted questions seeking clarity on the following:
- A realistic timeline for launching a revenue-generating robotaxi network
- Progress updates on a more affordable “next-generation vehicle”
**Livestream Earnings Call**
Tune in to the live earnings call on Tuesday at 5:30 p.m. ET to hear Tesla executives address these critical issues and provide insights into the company’s future direction.
Data sourced from: cnbc.com
