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Stockreport

Lucid posts quarterly revenue beat as luxury EV sedan price cuts boost sales [Reuters]

Tesla, Inc. (TSLA)  More Company Research Source: Reuters
Last tesla, inc. earnings: 4/29 04:11 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.tesla.com
Shares of the Newark, California-based firm fell about 3% in trading after the bell. They have fallen about 28% this year as of Monday's close, amid investor concerns of slowing demand for electric vehicles. The company said it was on track to produce 9,000 cars this year. It made 8,428 vehicles last year and analysts, on average, expected the company to make 12,677 units in 2024. Lucid had cut prices of its flagship Air sedans in February by as much as 10% to spur sales, as customers gravitate to less expensive gasoline-electric hybrid cars due to still-high interest rates. The company first-quarter deliveries above market expectations last month thanks to lower prices, even as Elon Musk-led market leader Tesla reported its first fall in quarterly deliveries in nearly four years. Revenue for the first quarter was $172.7 million, compared with analysts' estimate of $156.99 million, according to LSEG data. Lucid posted a net loss of $684.76 million, narrower than a $779.5 mi [Read more]
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Stockreport

Lucid posts quarterly revenue beat as luxury EV sedan price cuts boost sales [Reuters]

Tesla, Inc.  (TSLA) 
More Company Research Source: Reuters
Last tesla, inc. earnings: 4/29 04:11 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.tesla.com
Shares of the Newark, California-based firm fell about 3% in trading after the bell. They have fallen about 28% this year as of Monday's close, amid investor concerns of slowing demand for electric vehicles. The company said it was on track to produce 9,000 cars this year. It made 8,428 vehicles last year and analysts, on average, expected the company to make 12,677 units in 2024. Lucid had cut prices of its flagship Air sedans in February by as much as 10% to spur sales, as customers gravitate to less expensive gasoline-electric hybrid cars due to still-high interest rates. The company first-quarter deliveries above market expectations last month thanks to lower prices, even as Elon Musk-led market leader Tesla reported its first fall in quarterly deliveries in nearly four years. Revenue for the first quarter was $172.7 million, compared with analysts' estimate of $156.99 million, according to LSEG data. Lucid posted a net loss of $684.76 million, narrower than a $779.5 mi [Read more]
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TSLA
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