Tesla shares jumped by more than 7% today, Wednesday, after the company announced that the profitability of its basic work in the auto industry exceeded expectations in the first quarter, although it achieved revenues and profits without expectations.
Tesla share 7.24% increased to $ 255.26 in the latest transactions.
Focus on Tesla
Investors are evaluating the statement of CEO Elon Musk that he will significantly reduce the time he allocates to the administration of US President Donald Trump as of next month and will spend more time in managing his many companies.
Musk said that he would limit his work with Trump to a day or two a week, after the sharp billionaire methods of reducing costs sparked violent reactions from public opinion and investing investors.
The 130 -day Master’s mandate is scheduled to end as a private government employee in the Trump administration in late May.
“I think it is probably starting next month, in May, a temporary allocation of government efficiency management will significantly decrease,” Mask said to investors in a group call after the electric car industry announced its results.
Tesla faced a few months of trouble, as its electric car delivery decreased sharply, and the political mask activities sparked protests, and the company’s share decreased to almost half of the peak that reached it in December, and many investors demanded a mask to leave his position as a Trump consultant and Tesla administration closely.
Musk said that his main work of establishing the government competence department concerned with reducing costs was completed.
Sales
And the global sales of Tesla fell more than expected in the first quarter, as it handed over 336,681 cars only, a decrease of 13% compared to the same period last year.
This level is the lowest since the second quarter of the year 2022, when the company delivered 254,695 cars, according to the numbers published in early April.
The Widbush Financial Services Corporation expected to deliver between 355 thousand cars and 360 thousand, while the market expected more than 400 thousand cars at the beginning of the year, and Deutsche Bank had expected between 340 thousand cars and 350 thousand, after he conducted a review of initial expectations that indicated 378 thousand cars.
“Recall is the first for delivery operations for more than 10 years,” the Perfing website talked about “Recall is the first for delivery operations for more than 10 years.”
According to the statement issued on Tuesday, the revenues decreased by 9% to 19.3 billion dollars, and net profits decreased by 71% to 409 million, and the expectations of “Facttit” experts indicate 21.13 billion dollars and 1.44 billion dollars, respectively.
The group responded to many analysts’ questions, especially that its plans for the new models, including the lower price, are still “on the course of production start in the first half of the year 2025”.
Production is expected to start on a large scale for a robotics vehicle, which is a fully -driving electric car that was unveiled on October 10, 2024, according to what is planned, in the beginning of the year 2026.
It is assumed that the first of these vehicles will roam the streets of Austin in Texas, starting next June.
