Chinese EV makers sink tracking disappointing Tesla Q3 earnings

  • 📰 Investingcom
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 53%

France Nouvelles Nouvelles

France Dernières Nouvelles,France Actualités

Chinese EV makers sink tracking disappointing Tesla Q3 earnings

, as a string of price cuts weighed on the firm’s gross margin. Deliveries also weakened in the third quarter, although this was attributed to production disruptions from upgrade work at various factories.

His comments marked a shift in tone from last year, where Musk had assured investors that Tesla was “recession resilient.” Tesla’s cuts had also triggered a price war among Chinese manufacturers- a trend that is expected to almost unanimously dent profit margins for regional players. Tesla’s weak third-quarter showing likely heralds a similar trend for most Chinese EV makers.

China was a bright spot for global EV sales this year, seeing strong growth even as broader automobile sales slowed and local economic conditions deteriorated. But a bulk of this was also driven by local players, who logged record sales as the country reemerged from three years of COVID-related lockdowns.for the third quarter on higher sales and better margins. BYD shares also logged the smallest declines among their peers on Thursday.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 450. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Tesla Earnings Preview: Price Cuts to Hurt Margins or Drive Market Share Growth?Stocks Analysis by Investing.com (Günay Caymaz) covering: Tesla Inc, Tesla Motors Inc, COMMERZBANK AG ZT TESLA MOTORS INC 31Dec99, Banca IMI SpA ZT Tesla 10Jun20. Read Investing.com (Günay Caymaz)'s latest article on Investing.com
La source: Investingcom - 🏆 450. / 53 Lire la suite »