“All U.S. cars that are capable of FSD will be enabled for a one-month trial this week,” Musk wrote on social media platform X.

Priced at $12,000, the FSD technology has fallen short of expectations in terms of being a profit driver. This comes after Tesla was faced with regulatory and legal hurdles regarding its safety and marketing efforts. In response, Musk claimed that critics do not understand how well the FSD works while supervised.

Tesla’s decision to provide a trial of the FSD to U.S. consumers comes across as a sales push amid declining adoption rates of the technology. While 53% of Tesla customers opted for the driver-assist technology in the third quarter of 2019, only 14% of customers purchased the FSD in the third quarter of 2022.

The post Tesla Offers One-Month Trial of Driver-Assist Technology appeared first on theprimarymarket.com.

“This is the essential quandary of manufacturing: factories need continuous production for efficiency, but consumer demand is seasonal,” Tesla CEO Elon Musk explained. With the company being hurt by a vicious price war with rivals that began a year ago, the company warned that its sales may decline this year as it looks to focus on the development of its next-generation EV, named “Redwood”.

The decision to raise the price of the Model Y follows Tesla’s previous decision to increase the price of the Model Y rear-wheel drive and long-range vehicles by $1,000, to $$43,990 and $48,990 respectively.

The post Tesla to Increase Model Y Price in Europe appeared first on theprimarymarket.com.

Such gains occurred despite downbeat earnings reported by EV maker Tesla. Stocks in the company fell by 12% after top-line revenue of $25.17 billion for the fourth quarter fell short of an expected $25.87 billion. Adjusted net income totaled $2.48 billion, lower than an expected $2.61 billion. The company lowered its full-year outlook as a result.

Economic data came in hot, with the fourth quarter US gross domestic product (GDP) showing that the US economy grew by 3.3% on an annual basis. This significantly outpaced the 2% growth expected by economists.

The post S&P 500 Reaches New Height as Tesla Slips appeared first on theprimarymarket.com.

Q3’s EV sales were almost a 50% rise from last year as well as 15,000 more sales than the 298,000 in the second quarter. According to KBB, total EV sales for the year are expected to exceed one million. “Higher inventory levels, more product availability, and downward pricing pressure have helped spur continued linear growth of EV sales in the US market,” Cox Automotive’s chief economist Jonathan Smoke observed.

Despite more than 150,000 sales in the third quarter, Tesla saw its market share fall to 50% from 62% at the same point last year. Still, the company’s sales are growing, up 19.5% year-over-year and beating the industry growth rate of 16.3%.

The post EV Sales Hit Record in Q3 appeared first on theprimarymarket.com.

While this year’s third-quarter deliveries were higher than last year’s deliveries of 365,923 vehicles, it fell short of the previous quarter’s 479,700 deliveries. Still, the company insists that it is on track to deliver its target of 1.8 million vehicles.

Some analysts have expressed optimism for Tesla’s fourth-quarter prospects, citing factory upgrades that could improve efficiency and lead to a rebound in deliveries. Such improvements should also allow Tesla to introduce new models to compete with U.S. rivals including Ford and BYD.

The post Tesla Q3 Deliveries Miss Estimates appeared first on theprimarymarket.com.

A post from Tesla on the social media platform Weibo showed that the price of the Model S has been lowered from 808,900 yuan to 754,900 yuan ($103,477.58); a 6.7% drop. The price of the Model X was reduced by 6.9% from 898,900 yuan to 836,900 yuan.

Vehicle sales in China for the EV maker declined by 31% in July compared to June – the first month-on-month decline that Tesla has experienced since December last year. This was the period in which Tesla lowered its production levels as it dedicated more resources to preparing for the revamped Model 3 launch.

In addition to raising its profit margin, Tesla is also looking to remain competitive against rivals such as China’s BYD, which saw its sales increase over July compared to the previous month.

The post Tesla Slashes Prices in China in Sales Push appeared first on theprimarymarket.com.

Tesla unveiled Cybertruck back in November 2019 and received 250,000 preorders in less than a week. Since then, the highly anticipated EV pickup faced some challenges that delayed production before Tesla CEO Elon Musk announced that the first units would find their way to customers in the third quarter of 2023.

The shares of Tesla dipped as low as $108 in early January before doubling up in value by the end of the month. Following the news about the first Cybertruck being produced in the Giga Austin plant, Tesla stock had a strong opening on Monday, reaching a price of $290.80 per share at one point.

Wall Street analysts expect Tesla shares to continue being on the rise in the following months, especially if the company delivers on its promise to start delivering Cybertruck to customers. The plans to build a new factory in Mexico and the expected introduction of new Tesla coupe models should also work in favor of keeping the stock strong.

The post Tesla Stock Surges After Giga Austin Plant Produces the First Cybertruck appeared first on theprimarymarket.com.

Unveiled in 2019, company CEO Elon Musk stated that production on the truck was expected to begin in April 2021. While the manufacturing process began on time, the company warned that the process would be slower than expected and that the vehicle would be produced in smaller numbers than Tesla’s other vehicles.

“It takes time to get the manufacturing line going,” Musk said of the slower process before justifying, “and this is really a very radical product. It’s not made in the way that other cars are made. So let’s see.”

The Cybertruck differs significantly from standard pickup trucks in the physical sense, with its wedge shape and stainless steel shell. Originally, Tesla announced that three versions of this pickup would be made, ranging in price from $40,000 to $70,000.

The post Tesla Unveils First Electric Pickup appeared first on theprimarymarket.com.

In contrast to the general trend, new energy vehicle (NEV) sales surged by over 25% in June, accounting for 35% of total car sales for the month. Over the first six months of the year, NEV sales grew by 37% to 3.09 million units. Although overall sales in June fell, China’s car exports for the month skyrocketed by 56%.

Both Tesla and rival EV maker BYD reached record deliveries for their China-made vehicles in the second quarter. Still, Tesla’s market share for pure electric and plug-in hybrid cars in China slipped during the second quarter from 10.5% in Q1 to 8.8%.

The post China’s Car Sales Fall in June, Diluting Tesla’s Market Share appeared first on theprimarymarket.com.

This rise followed news of General Motors’ announcement last week that it would be partnering with Tesla to make use of the company’s Supercharger Network. Tesla’s Supercharger Network will be available to GM electric vehicle drivers from next year.

General Motors’ decision to partner with Tesla comes after Ford announced a similar partnership with Tesla which would see Ford EVs receive access to Tesla’s charging network.

“Recall in our 2022 report that we sized the potential for Tesla opening its network more widely in the next few years (i.e. more than just Ford) at $1-$3 bn of incremental revenue (although Tesla wouldn’t necessarily capture all of this),” Goldman Sachs analyst Mark Delaney wrote in a note to investors.

The post Tesla Stock Extends Gains to 13th Straight Session appeared first on theprimarymarket.com.

“All U.S. cars that are capable of FSD will be enabled for a one-month trial this week,” Musk wrote on social media platform X.

Priced at $12,000, the FSD technology has fallen short of expectations in terms of being a profit driver. This comes after Tesla was faced with regulatory and legal hurdles regarding its safety and marketing efforts. In response, Musk claimed that critics do not understand how well the FSD works while supervised.

Tesla’s decision to provide a trial of the FSD to U.S. consumers comes across as a sales push amid declining adoption rates of the technology. While 53% of Tesla customers opted for the driver-assist technology in the third quarter of 2019, only 14% of customers purchased the FSD in the third quarter of 2022.

The post Tesla Offers One-Month Trial of Driver-Assist Technology appeared first on theprimarymarket.com.

“This is the essential quandary of manufacturing: factories need continuous production for efficiency, but consumer demand is seasonal,” Tesla CEO Elon Musk explained. With the company being hurt by a vicious price war with rivals that began a year ago, the company warned that its sales may decline this year as it looks to focus on the development of its next-generation EV, named “Redwood”.

The decision to raise the price of the Model Y follows Tesla’s previous decision to increase the price of the Model Y rear-wheel drive and long-range vehicles by $1,000, to $$43,990 and $48,990 respectively.

The post Tesla to Increase Model Y Price in Europe appeared first on theprimarymarket.com.

Such gains occurred despite downbeat earnings reported by EV maker Tesla. Stocks in the company fell by 12% after top-line revenue of $25.17 billion for the fourth quarter fell short of an expected $25.87 billion. Adjusted net income totaled $2.48 billion, lower than an expected $2.61 billion. The company lowered its full-year outlook as a result.

Economic data came in hot, with the fourth quarter US gross domestic product (GDP) showing that the US economy grew by 3.3% on an annual basis. This significantly outpaced the 2% growth expected by economists.

The post S&P 500 Reaches New Height as Tesla Slips appeared first on theprimarymarket.com.

Q3’s EV sales were almost a 50% rise from last year as well as 15,000 more sales than the 298,000 in the second quarter. According to KBB, total EV sales for the year are expected to exceed one million. “Higher inventory levels, more product availability, and downward pricing pressure have helped spur continued linear growth of EV sales in the US market,” Cox Automotive’s chief economist Jonathan Smoke observed.

Despite more than 150,000 sales in the third quarter, Tesla saw its market share fall to 50% from 62% at the same point last year. Still, the company’s sales are growing, up 19.5% year-over-year and beating the industry growth rate of 16.3%.

The post EV Sales Hit Record in Q3 appeared first on theprimarymarket.com.

While this year’s third-quarter deliveries were higher than last year’s deliveries of 365,923 vehicles, it fell short of the previous quarter’s 479,700 deliveries. Still, the company insists that it is on track to deliver its target of 1.8 million vehicles.

Some analysts have expressed optimism for Tesla’s fourth-quarter prospects, citing factory upgrades that could improve efficiency and lead to a rebound in deliveries. Such improvements should also allow Tesla to introduce new models to compete with U.S. rivals including Ford and BYD.

The post Tesla Q3 Deliveries Miss Estimates appeared first on theprimarymarket.com.

A post from Tesla on the social media platform Weibo showed that the price of the Model S has been lowered from 808,900 yuan to 754,900 yuan ($103,477.58); a 6.7% drop. The price of the Model X was reduced by 6.9% from 898,900 yuan to 836,900 yuan.

Vehicle sales in China for the EV maker declined by 31% in July compared to June – the first month-on-month decline that Tesla has experienced since December last year. This was the period in which Tesla lowered its production levels as it dedicated more resources to preparing for the revamped Model 3 launch.

In addition to raising its profit margin, Tesla is also looking to remain competitive against rivals such as China’s BYD, which saw its sales increase over July compared to the previous month.

The post Tesla Slashes Prices in China in Sales Push appeared first on theprimarymarket.com.

Tesla unveiled Cybertruck back in November 2019 and received 250,000 preorders in less than a week. Since then, the highly anticipated EV pickup faced some challenges that delayed production before Tesla CEO Elon Musk announced that the first units would find their way to customers in the third quarter of 2023.

The shares of Tesla dipped as low as $108 in early January before doubling up in value by the end of the month. Following the news about the first Cybertruck being produced in the Giga Austin plant, Tesla stock had a strong opening on Monday, reaching a price of $290.80 per share at one point.

Wall Street analysts expect Tesla shares to continue being on the rise in the following months, especially if the company delivers on its promise to start delivering Cybertruck to customers. The plans to build a new factory in Mexico and the expected introduction of new Tesla coupe models should also work in favor of keeping the stock strong.

The post Tesla Stock Surges After Giga Austin Plant Produces the First Cybertruck appeared first on theprimarymarket.com.

Unveiled in 2019, company CEO Elon Musk stated that production on the truck was expected to begin in April 2021. While the manufacturing process began on time, the company warned that the process would be slower than expected and that the vehicle would be produced in smaller numbers than Tesla’s other vehicles.

“It takes time to get the manufacturing line going,” Musk said of the slower process before justifying, “and this is really a very radical product. It’s not made in the way that other cars are made. So let’s see.”

The Cybertruck differs significantly from standard pickup trucks in the physical sense, with its wedge shape and stainless steel shell. Originally, Tesla announced that three versions of this pickup would be made, ranging in price from $40,000 to $70,000.

The post Tesla Unveils First Electric Pickup appeared first on theprimarymarket.com.

In contrast to the general trend, new energy vehicle (NEV) sales surged by over 25% in June, accounting for 35% of total car sales for the month. Over the first six months of the year, NEV sales grew by 37% to 3.09 million units. Although overall sales in June fell, China’s car exports for the month skyrocketed by 56%.

Both Tesla and rival EV maker BYD reached record deliveries for their China-made vehicles in the second quarter. Still, Tesla’s market share for pure electric and plug-in hybrid cars in China slipped during the second quarter from 10.5% in Q1 to 8.8%.

The post China’s Car Sales Fall in June, Diluting Tesla’s Market Share appeared first on theprimarymarket.com.

This rise followed news of General Motors’ announcement last week that it would be partnering with Tesla to make use of the company’s Supercharger Network. Tesla’s Supercharger Network will be available to GM electric vehicle drivers from next year.

General Motors’ decision to partner with Tesla comes after Ford announced a similar partnership with Tesla which would see Ford EVs receive access to Tesla’s charging network.

“Recall in our 2022 report that we sized the potential for Tesla opening its network more widely in the next few years (i.e. more than just Ford) at $1-$3 bn of incremental revenue (although Tesla wouldn’t necessarily capture all of this),” Goldman Sachs analyst Mark Delaney wrote in a note to investors.

The post Tesla Stock Extends Gains to 13th Straight Session appeared first on theprimarymarket.com.