There have been plenty of rumors that Tesla Inc. (NASDAQ: TSLA) has so many unsold new cars in its inventory that it has run out of space to park them adjacent to its factories.
Tesla Inc (NASDAQ:TSLA) slump in European sales continued in May, deepening concerns over the brand's image and competitive position in a fast-evolving market. The company's new registrations fell 27.9% year-on-year, despite overall battery-electric vehicle (BEV) sales across Europe rising by 27.2%, according to data from the European Automobile Manufacturers Association.
Tesla new car sales in Europe fell 27.9% year-on-year. in May. The U.S. EV maker has sustained brand and reputational damage in part due to CEO Elon Musk's incendiary rhetoric and political activity.
Tesla's (TSLA) sales in the European Union (EU) tumbled for a fifth consecutive month in May, even though overall new battery-electric vehicle (BEV) registrations kept rising.
Tesla started a self-driving taxi service. Wall Street reviews of the launch are mixed.
Chinese carmaker Chery Auto is weighing plans to build a second European production site in the UK as part of a strategy to deepen its local presence. Speaking at the Society of Motor Manufacturers and Traders conference in London, UK director Victor Zhang said that manufacturing in Britain is “actively being considered,” following the launch of its Omoda and Jaecoo brands last year.
Tesla's new car sales in Europe fell 27.9% in May from a year earlier even as fully-electric vehicle sales in the region jumped 27.2%, with the U.S. EV maker's revised Model Y yet to show signs of reviving the brand's fortunes.
The latest trading day saw Tesla (TSLA) settling at $340.48, representing a -2.35% change from its previous close.
Tesla has been building modified Model Ys for its Robotaxi program, sources told BI. The project is referred to internally as "Halo" and involves cars with self-cleaning cameras and telecommunication units.
How much is Tesla really worth? It's the age-old question that's plagued Wall Street investors.
A technical roadblock got in the way of Tesla shares' robotaxi run.
Tesla Inc. (NASDAQ: TSLA) stock made a big move when the company said its new self-driving robotaxi was on the road in Austin.