Africa News TheFoxPosts.com

Tesla is roaring back from a dismal 2022 as company shares, which have already doubled this year, were driven higher Monday by a spike in second-quarter deliveries Tesla is roaring back from a dismal 2022 as company shares , which have already doubled this year, were driven higher Monday by a spike in second-quarter deliveries . Shares jumped 7% to a new high for 2023 after the electric car maker said its deliveries in the most recent quarter rose 83% compared with the same period last year. Tesla cut prices several times on its four electric vehicle models and buyers took advantage of U.S. government tax credits. Tesla was pummeled in 2022, pushing shares down nearly 70%. Shares were in decline for most of the year and went into a near freefall after Tesla CEO Elon Musk acquired Twitter in a $44 billion deal. Musk's takeover at Twitter has been anything but smooth and a myriad of issues have continued to turn off users and advertisers. Musk on Friday said the company would limi...

Tesla said Monday it had deliver ed 1.31 million electric vehicles in 2022 -- a record for the US automaker and a 40 percent jump from a year before, but still short of its own and Wall Street's expectations. The Elon Musk-led company has set a long-term goal of increasing its deliveries by 50 percent a year on average. Tesla regularly says the objective may fluctuate based on operations and in a statement Monday, it noted "significant Covid and supply chain-related challenges" had affected its 2022 output. Production was suspended at its Shanghai plant for several weeks during the course of last year due to Covid restrictions. In October, the company's chief financial officer Zach Kirkhorn said that Tesla might fall short of its goal. Analysts had hoped for better results -- they predicted deliver y of 427,000 vehicles in the fourth quarter, according to estimates compiled by FactSet, but the company only managed to deliver 405,000. To boost sluggish sales, T...