Money

Tesla results reveal a dark cloud hanging over the automotive industry

Published

2 years ago

October 3, 2022

William Howard

Tesla results could be an indication of troubling times ahead

Tesla results are are out, with the EV maker releasing its vehicle production and delivery numbers for quarter three.

The EV company announced lower-than-expected electric vehicle deliveries, with the company placing the blame on logistical challenges.

Tesla said “it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost.” But analysts also have concerns about the demand for high-ticket items at a time when the global economy is weakening.

In quarter three, Tesla managed to deliver 343,830 electric vehicles. This is a record for the automaker, but falls short of the 359,162 estimate.

Meanwhile, total production reached 365,923 vehicles. A number greater than vehicles actually delivered to customers.

On Sunday, Tesla CEO Elon Musk said “smoothing out crazy end of quarter delivery wave to reduce expedite costs & relieve stress on Tesla team.”

It comes as Musk unveiled a prototype of the humanoid robot ‘Optimus.’ Musk predicts his company will be able to produce millions and sell them for under $20,000 USD.

Reviews of the new prototype were largely positive, but many agree with Musk who said “there’s still a lot of work to be done to refine Optimus and prove it.”

Related Topics:Business Featured musk Tech tesla trending

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William Howard

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

Money

What to expect for IPO markets

Published

10 hours ago

September 13, 2024

ticker NEWS

With high interest rates and geopolitical uncertainty–what’s in store for IPO markets?

As the second half of 2024 begins, the IPO market is poised for a potential rebound after a sluggish start to the year.

With improving economic conditions and renewed investor confidence, more companies seem to be considering going public, creating market optimism.

However, challenges such as inflation and geopolitical uncertainties remain key factors to watch.

Dean Quiambao, a partner at Armanino joins Veronica Dudo to discuss what experts are predicting for the IPO landscape in the coming months and how businesses are positioning themselves for success.

#IN AMERICA TODAY #trending #IPO #IPOmarkets #ratecuts

Money

ASX positioned for strong start after positive stock rebound

Published

3 days ago

September 10, 2024

ticker NEWS

The ASX is set for a solid opening today, bolstered by overnight gains in the banking, commodities, and energy sectors.

Despite these positive movements, analysts are suggesting that the stock rebound and bond decline appear to be technically driven, noting that it may not mark the beginning of a longer-term trend.

Market analyst David Scutt from StoneX joins to discuss the latest market movements. #featured #trending