Tesla reports financial results in the first quarter after the bell on Tuesday with the electric vehicle manufacturer to meet the sales and repercussions of its CEO in the Trump administration.
Wall Street expects Tesla to declare a profit of 41 cents per share, slightly down in the quarter of the previous year. Sales are estimated at $ 21.3 billion, tied with last year’s quarter.
Tesla fights a huge public reaction because of Elon Musk’s management of a federal government cost reduction group that has divided the country and sparked angry demonstrations among Tesla dealerships. Some analysts called Musk to abandon his role in the Trump administration to focus on Tesla.
Tesla Inc.’s shares have dropped more than 40% this year.
Tesla investors will carefully listen to updates on several strategic initiatives. The company should deploy a cheaper version of its best -selling vehicle, the SUV Model later in the year. Tesla also said that she was planning to start a driver -free Robotaxi service in Austin, Texas, in June.
The company which has once dominated electric vehicles also faces fierce competition for the first time.
Earlier this year, the manufacturer of Chinese electric vehicles Byd announced that it had developed an electric battery load system which can fully supply a vehicle in a few minutes. And the European rivals of Tesla began to offer new models with advanced technology that makes their real alternative, just as popular opinion in Europe has turned against Musk.
Investors expect Tesla to be less injured by Trump administration prices than most American automotive companies because it manufactures most of its American cars at the national level. But Tesla will not be completely unscathed. He gets in some materials abroad which will now be faced with import taxes.
Reprisals from China will also harm Tesla. The company was forced earlier this month to stop taking orders from the continent for two models, its S and Model X models. It manufactures model Y and model 3 for the Chinese market in its factory in Shanghai.
Originally published:
California Daily Newspapers
