Tesla’s unexpectedly heavy losses in the 1st quarter shook up investors in Europe, although some still reckon there is a bright future for the upstart electric carmaker
In a report headlined “Q1 a mix of disappointments and silver linings”, investment researcher Jefferies, said despite the big loss and ongoing problems, factors like auto gross margin resilience, cash earnings and gross liquidity were positives.
, no matter the management style, and remain confident there is a path to sustained profitability,” Jefferies analyst Philippe Houchois said in the report. Evercore ISI analyst Arndt Ellinghorst said Tesla was threatened now by the increasing supply of competitive products from Mercedes and Audi, the lowering of tax incentives in the U.S., and its ageing product line-up. Pressure on the share price will continue.
Reuters’ Breaking Views columnist Antony Currie pointed to CEO Musk’s inconsistencies, like the decision to close most stores which was reversed, and unlikely claims for the future, like 1 million Teslas capable of autonomous driving on the roads within 15 months.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A Tale of Two Teslas: Elon Musk to Tout Robot Cars Amid Sales SlumpAs Tesla faces questions about whether demand for the Model 3 compact car is slowing, CEO Elon Musk wants investors to focus on vehicles driving themselves in a robot-taxi fleet.
Read more »
Elon Musk says it's 'basically crazy to buy any other car but a Tesla'The Tesla CEO said that other vehicles will soon be so far behind Teslas in self-driving technology, owning another car will be like owning a horse.
Read more »
A conveyor belt of Sahara Desert sand is sweeping dust to Europe and the Arctic CircleThe dust has trekked as far poleward as Scandinavia, and could be swept back toward Greenland in the next 72 hours.
Read more »
Facebook's user growth in Europe is bouncing back, defying stricter privacy lawsFacebook reported 286 million daily active users in Europe in the first quarter of this year, 4 million more than in the prior quarter.
Read more »
Apple CEO Tim Cook: Europe is leading the U.S. when it comes to tech regulationApple CEO Tim Cook said that the tech industry very much needs to be regulated but he's 'not confident' in U.S. lawmakers to do it right.
Read more »
Russia's Stock Market Keeps Breaking RecordsImagine if Russian sanctions were removed? If Trump threatens Europe with a trade war over autos, Europe could conceivably ditch Washington's sanctions program.
Read more »
In pictures: climate change activists call for action in EuropeActivists came out in France, Britain and Italy to urge their respective governments and world leaders to act against climate change.
Read more »
Notre Dame fire was a warning bell. But will Europe listen?Get breaking national and world news, broadcast video coverage, and exclusive interviews. Find the top news online at ABC news.
Read more »