The electric vehicle market is still a "long way" from a shakeout, according to consulting firm Sino Auto Insights. China's EV market has been roiled by Tesla 's aggressive price cuts and the country's government ended subsidies for EV buyers. But Sino Auto Insights' managing director, Tu Le, is still bullish on EV giant Tesla and its Chinese counterpart BYD.
Tesla said it delivered more than 422,000 cars worldwide in the same period. Tesla reported a 24% decline in net income compared to last year, dropping to $2.51 billion from $3.32 billion. The shed in earnings was attributed to the "underutilization of new factories," higher raw material and logistics costs amongst other factors.
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Analyst Discusses Wednesday Trading as Stocks Climb on Optimism over Debt CeilingAlex Morris, president and chief investment officer with F/M Investments, joined Cheddar News to discuss Wednesday's trading session as stocks climbed amid optimism over a potential debt ceiling deal just days ahead of a deadline.
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