NEW YORK, Mar 28 (Reuters): Tesla is expected to report sluggish first-quarter deliveries next week as the boost from its price cuts wanes and the US automaker grapples with strong competition for buyers in a slowing electric-vehicle market.
After years of rapid sales growth that helped turn it into the world's most valuable automaker, Tesla is bracing for a slowdown in 2024.
The company has been slow to refresh its aging models at a time high interest rates have sapped consumer appetite for big-ticket items and rivals in China are rolling out cheap models.
"Tesla may be witnessing price-cut fatigue with consumers and may be testing profitability levels that the company may not find acceptable," Morgan Stanley analyst Adam Jonas said in a report.
Tesla deliveries face hit from China slowdown, soft demand
FE Team | Published: March 28, 2024 23:47:07
Tesla deliveries face hit from China slowdown, soft demand
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