Tesla is forecasting a sharp sales slowdown this year, becoming the latest car company to warn of sagging demand.
Elon Musk’s electric vehicle (EV) maker said growth would be “notably lower” than in 2023, when deliveries rose 38%.
The company’s shares fell by almost 6% in extended trade in New York after the announcement.
The company’s shares fell by almost 6% in extended trade in New York after the announcement.
Tesla slashed prices repeatedly last year in a bid to keep demand up.
The moves helped the firm sell a record 1.8 million cars in 2023, up nearly 40% from 2022.
But revenue grew at about half that pace, slowing precipitously at the end of the year.
In its quarterly update to investors, Tesla said it was not expecting another big wave of expansion until it launches a new model.
The company has been discussing plans for a compact car that would be less expensive than its current Model Y, which starts around £45,000 in the UK.
Tesla is forecasting a sharp sales slowdown this year, becoming the latest car company to warn of sagging demand.
The company’s shares fell by almost 6% in extended trade in New York after the announcement.
Elon Musk’s electric vehicle (EV) maker said growth would be “notably lower” than in 2023, when deliveries rose 38%.
Tesla slashed prices repeatedly last year in a bid to keep demand up.
The company’s shares fell by almost 6% in extended trade in New York after the announcement.
The company’s shares fell by almost 6% in extended trade in New York after the announcement.
Tesla slashed prices repeatedly last year in a bid to keep demand up.
The moves helped the firm sell a record 1.8 million cars in 2023, up nearly 40% from 2022.
But revenue grew at about half that pace, slowing precipitously at the end of the year.
In its quarterly update to investors, Tesla said it was not expecting another big wave of expansion until it launches a new model.
The company has been discussing plans for a compact car that would be less expensive than its current Model Y, which starts around £45,000 in the UK.
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