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2023-01-24 16:44:41

Tesla's slowing sales, shrinking margins in focus in EV price war

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Channel NewsAsia
By Cna

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Tesla Inc on Wednesday is expected to report the slowest sales growth in 10 quarters on underwhelming deliveries, days after its move to stir demand and choke competition by slashing prices on its electric cars.

The company's margins will be hit though as Tesla looks to squash competition from traditional automakers such as Ford Motor Co and unprofitable startups including Rivian Automotive Inc and Lucid Group Inc.

Net profit is set to increase at its slowest rate in three years, according to Refinitiv estimates.

"I'm curious to see how those two (production cost and average selling price) offset each other in the fourth quarter because that will be an excellent directional indicator for what we can expect in 2023," Morningstar analyst Seth Goldstein said.

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