News

Even Elon Musk is worried about EV sales

Published

7 months ago

October 20, 2023

ticker NEWS

Tesla Inc. reported a decline in its earnings for the third quarter (Q3) as the electric carmaker struggled to maintain profitability amidst aggressive price cuts.

Despite lowering prices on some of its popular models, including the Model 3 and Model Y, the company faced challenges in boosting its sales figures.

In Q3 2023, Tesla’s net earnings dropped by 15%, marking the second consecutive quarter of decline.

The price reductions, aimed at making electric vehicles more affordable for consumers, squeezed the company’s profit margins. However, these discounts failed to stimulate significant growth in sales volume, indicating possible market saturation.

Tesla’s Chief Financial Officer expressed optimism about the company’s long-term prospects, highlighting ongoing investments in manufacturing capacity and research and development.

Nevertheless, analysts remain concerned about the immediate profitability outlook.

Key factors contributing to Tesla’s Q3 performance included supply chain disruptions, ongoing chip shortages, and increased competition in the electric vehicle market.

These challenges may continue to impact the company’s future earnings. #featured

Money

Why “stagflation” will be the greatest financial threat of 2024

Published

10 hours ago

May 6, 2024

Nathan Langridge

With inflation soaring and economic growth tapering off, concerns about stagflation are on the rise

Stagflation, a situation characterised by high inflation coupled with stagnant economic growth, presents a unique challenge that many are ill-prepared to face.

Mark Wyld from MW Wealth joins to unpack what defines “stagflation”. #featured

News

Will Tesla’s supercharger layoffs eventually payoff?

Published

10 hours ago

May 6, 2024

Nathan Langridge

Tesla CEO Elon Musk dissolves supercharging team, leaving customers stranded.

Elon Musk’s decision to disband Tesla’s electric vehicle charging team has left customers concerned about the future of the company’s charging infrastructure.

The move comes as a surprise to many, considering Tesla’s commitment to expanding its charging network to support its growing fleet of EVs #featured

News

TikTok’s fate in the United States

Published

3 days ago

May 4, 2024

ticker NEWS

TikTok’s fate in the United States has never been more in doubt.

Congress approved a bill, which President Joe Biden signed into law that gives its Chinese parent company two options: sell it to an approved buyer or see it banned.

But now, the owners of the popular social media app says they’re preparing to challenge the statute in court.

Andy Keiser a Senior Fellow at the National Security Institute, and a Former Senior Advisor for the House Intelligence Committee joins Veronica Dudo to discuss. #IN AMERICA TODAY #featured #business #socialmedia #TikTok #TikTokban #nationalsecurity