Tesla Stock ( NASDAQ:TSLA )
Compared to its worldwide competitors, Tesla ( NASDAQ:TSLA ) Inc. generates more profits per car sold. CEO Elon Musk has initiated a pricing war for electric vehicles , using his company’s superior profitability as a weapon.
According to Reuters’ examination of industry statistics, Tesla stock, which was previously one of the auto industry’s greatest money losses, has developed a commanding lead over most major competitors in profit per car over the last year.
According to a Reuters analysis, Tesla’s gross profit per vehicle in the third quarter of 2022 was $15,653, which was more than twice as much as the comparable figure at Volkswagen AG ( OTC:VWAGY ), four times as much as the comparable figure at Toyota Motor ( NYSE:TM ) Corp, and five times as much as Ford Motor ( NYSE:F ).
Like several of its competitors this year, Tesla has steadily increased the cost of its most popular models, including the Model Y SUV. The car sector was able to concentrate on higher-margin models and record solid profits despite a decline in sales numbers due to semiconductor and other material shortages.
The profit-over-volume tactics established manufacturers like GM have followed since the 2008 financial crisis and doubled down during the epidemic are being challenged by Tesla’s choice to reverse direction and use its production-cost advantage on price decreases.
Tesla stock ha...
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