TECH - Tesla's Tactical Change May Deliver Fewer Vehicles But Could Raise Profitability: Analyst | Benzinga
Tesla Inc (NASDAQ:TSLA) appears to be changing its strategy after noting in its last quarterly earnings report that it was facing lower demand for electric vehicles and that delivery growth rates in 2024 would be “notably lower” than in 2023.
The company’s fourth-quarter earnings disappointed Wall Street expectations, with misses on revenue and profit as the company reported negative impacts from growth in vehicle deliveries that have lower average sales prices.
Tesla has already announced price increases in the U.S. and the eurozone for its most popular vehicle — the Model Y SUV.
Last week, the company announced plans to increase the Model Y’s price in the U.S. by $1,000 starting next month, and by up to 2,000 euros in certain Eurozone countries.
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