Wednesday’s earnings report is expect to exhibit underwhelming deliveries
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.
Tesla has been ramping up output at two of its mega factories in Berlin and Austin, which analysts believe will help lower the cost of production and offset some of the hit it has taken from discounting.Billionaire Elon Musk-led Tesla has offered hefty discounts on its vehicles in recent months and earlier this month cut prices globally by as much as 20%.
There are some early signs that the price cuts are working, with Chinese EV makers XPeng and Seres slashing prices of their EVs in response and data showing a surge in Tesla’s China sales.
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