Connect with us

Hi, what are you looking for?

Z-State 800

Tesla’s Stock Price Craters 11% After Elon Musk Forecasts ‘Notably Lower’ Growth in 2024

Tesla, led by Elon Musk, experienced a significant drop in stock value due to weak earnings and a forecast of reduced sales growth in 2024.

The company’s operating margin fell, reflecting Musk’s strategy of cutting prices to attract buyers.

Despite a rise in net income, Tesla warned investors of lower vehicle volume growth and the challenges of launching a next-generation vehicle.

Analysts believe that Tesla’s previous high growth rates are unlikely to be sustained in 2024, especially as consumer interest in electric vehicles appears to be waning.

Morningstar analyst Seth Goldstein said, “Tesla is signaling that the days of 50% or even 30% to 40% growth year-over-year is not going to happen in 2024. At a certain point, you can’t cut prices anymore.”

Musk is banking on a more affordable EV to drive future growth, but the company’s challenges in achieving substantial EV sales growth are evident.

Musk recently said, “That will be a challenging production ramp. Once it’s going, it will be head and shoulders above any other manufacturing technology that exists anywhere in the world. It’s next-level.”

Read Also:

Olympic Athlete Suddenly Dies At 34

Shock Audio Released In Bribery Scandal Against Kari Lake

You May Also Like


President Joe Biden delivered a speech during the signing ceremony of a proclamation to establish the “Emmett Till and Mamie Till-Mobley National Monument” in...


The ex-husband of First Lady Jill Biden is speaking out about serious concerns with “the Biden crime family.” Delaware businessman Bill Stevenson sat down...


Joe Biden’s 2020 presidential campaign repeatedly insisted that he had no involvement in his son Hunter’s overseas business dealings. “I have never spoken to...

U.S. News

A 911 call was made from former President Barack Obama’s Martha’s Vineyard estate after a 45-year-old man struggled for his life. Just yards away...