Reported about 7 hours ago
Despite Tesla posting its best quarterly sales ever, investor enthusiasm has waned due to lower-than-expected profits and looming challenges, including the expiration of a federal tax credit and increased competition from automakers like BYD. Analysts noted that while sales surged as customers rushed to purchase electric vehicles before the tax incentive expired, the outlook for future sales looks grim, suggesting a significant drop in demand. Additionally, the company faces challenges from the removal of regulatory credit sales, affecting its profit margins.
Source: YAHOO