TeslaShareholders are preparing for the car maker to present its worst result in seven years on Tuesday. Tesla boss Elon Musk (52) presents the business figures for the past quarter in the evening (from 10 p.m. CEST). It is already known that deliveries of electric cars have surprised Wall Street fell by more than 8 percent. The company is struggling with slowing demand and a brutal price war.
Given the slump in sales, analysts expect lower sales and a lower operating profit. But you also want to know whether the company is undergoing a major change in direction. Musk announced the launch of a self-driving robotaxi model in early October. It is unclear whether this will shelve plans for a cheaper model priced at around $25,000. The conference call after the quarterly figures are presented could provide more clarity on this.
After rapid growth in recent years, the electric pioneer is primarily faced with weaker demand and growing competition China. Musk is cutting more than one in ten jobs. It is still unclear how many jobs will be lost in Grünheide, the only European Tela factory. The company deniedthat there are 3000 or more. Lowered over the weekend Tesla once again increased the prices for some models, including in Germany.
Tesla’s share price has been falling along with vehicle prices for months. This is currently at its lowest level in 15 months. With an annual decline of currently 43 percent, the electric car manufacturer’s stocks are among the weakest values in the Nasdaq 100 Index.