Tesla Foresees Slowest Sales Growth in Three Years

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Tesla Foresees Slowest Sales Growth in Three Years

Electric vehicle (EV) maker Tesla Inc (NASDAQ: TSLA) will deliver the slowest sales growth in 10 quarters during its earnings announcement on the 25th of January. The company has experienced lower deliveries, which could contribute to reduced sales growth. This comes as the EV giant cut prices on its electric cars to trigger consumer demand and restrict competition. Recently, Tesla issued huge discounts on its vehicles and has again lowered global prices by as much as 20%.

However, reducing the cost of cars may impact the company’s margin even though it will somewhat tackle increasing competition from traditional automakers. Some of the traditional auto manufacturers include Ford Motor Company (NYSE: F).

According to estimates by Refinitiv, Tesla is about to announce its slowest net profit rate and sales growth in three years. The EV manufacturer is already speeding up its production at the Berlin and Austin mega factories. Some analysts believe that ramping up fac...


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Tesla Foresees Slowest Sales Growth in Three Years