Thursday, 18 April 2024

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Business News

Tesla reported big delivery miss vs. lowered expectations, says Morgan Stanley – TipRanks Financial Blog

Tesla says will assist police probe into fatal crash in China, Reuters says

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Tesla reported a big delivery miss vs. lowered expectations, with deliveries in Q1 falling 9% year over year, marking the first annual decline since 2020, Morgan Stanley tells investors in a research note. The firm’s Q2 delivery estimate of 496,000 units implies nearly a 30% sequential improvement quarter over quarter, far too large a gap to bridge given continued pressures on demand, competition and lack of new product. The firm would prepare for Tesla to initiate cost cutting initiatives to help preserve margin rather than to double down on price cuts.

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