Toyota Earnings May Show a Flaw In Tesla's Pricing Strategy

A shift in third-quarter data from Tesla and Toyota Motor show a potential flaw in Elon Musk’s battery-electric-vehicle pricing strategy.

Toyota stock closed with a gain of 4.7% in overseas trading. U.S.-listed American depositary receipts were up 5.7% in early trading Wednesday while the S&P 500 and Dow Jones Industrial Average were up 0.5% and 0.3%, respectively. Tesla generated $3.7 billion operating profit in the 2022 third quarter, about 13% of the total operating profit of a handful of global auto makers while accounting for about 7% of total sales.

Newsletter Sign-up Tesla sold more cars, too, but prices of key models fell by as much as 25% year over year. That’s hard to overcome by selling more. Also, Tesla is ramping up production at new plants that aren’t running at full capacity. Tesla isn’t getting all the benefits of its higher manufacturing capacity yet.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

From Amazon to McDonald's, strong earnings show U.S. consumer resilienceIn a strong quarter for earnings, the big consumer stocks have shone even brighter, thanks to results from McDonald's (MCD.N), Chipotle Mexican Grill (CMG.N) and others that rank among the biggest surprises of the reporting cycle so far.
Source: Reuters - 🏆 2. / 97 Read more »

From Amazon to McDonald's, strong earnings show U.S. consumer resilienceFrom Amazon to McDonald's, strong earnings show U.S. consumer resilience
Source: Investingcom - 🏆 450. / 53 Read more »

The earnings rebound may take time to revive the fortunes of the equity marketUS earnings revival looks unlikely to lead to equity rebound yet, economists at UBS report.
Source: FXStreetNews - 🏆 14. / 72 Read more »