Tesla’s share price has taken a tumble once again, this time dropping 12% on the New York Stock Exchange. It’s yet more bad news for Elon Musk’s carmaker, which had a rough time last year.
The value of the company’s shares plummeted by over 65% in 2022. The problem, at least in part, is that the company missed the expectations of investors.
Tesla sold 1.3 million cars last year, more than ever before. But instead of 50 percent growth, sales increased by only 40 percent compared to the previous year. Sales still went up, but investors worry it could be the early signs of a slowdown.
Meanwhile Reuters reports the previous boss of Tesla’s Chinese operations Tom Zhu has been promoted to take care of the company’s North American sales, plants and distribution. A move that puts him second only to Elon Musk himself.
Subscribe:
For more news go to:
Follow DW on social media:
►Facebook:
►Twitter:
►Instagram:
►Twitch:
Für Videos in deutscher Sprache besuchen Sie:
#tesla #elonmusk #tomzhu
