The new Cybertruck from electric car maker Tesla will finally hit the market at the end of November. The first deliveries will then take place, Tesla has announced. The long-awaited electric pickup truck, which CEO Elon Musk unveiled in 2019, is rolling off the production line two years later than Musk had initially hoped.
This is an important moment for Tesla. With the launch of the Cybertruck, Tesla is taking a step into one of the most profitable segments of the American market. The company will also compete with electric pick-ups from Ford and Rivian, among others. Tesla says it has the capacity to make more than 125,000 pickups per year.
The news comes at the same time as Tesla’s quarterly figures. They were not so good, as the company’s profit margin fell to 17.9 percent. In the same quarter last year, Tesla managed to make a gross margin of more than 25 percent on each car. Turnover increased by 9 percent to more than 23 billion dollars.
Price reductions
The significant decrease in margin is a result of the many price reductions that Tesla has implemented in important markets, especially in China. Tesla does this to stimulate demand and stay ahead of the competition. Due to the sharp increase in inflation and rising interest rates, it has become increasingly difficult for many people to purchase an expensive electric car. Musk even warned last summer that the automaker would have to continue lowering prices if interest rates continued to rise.
In the third quarter, 435,059 vehicles were delivered to customers worldwide. This was less than in the second quarter of this year, when there were 466,140 deliveries. According to Tesla, the decline was related to planned works in factories. The company is sticking to its target of producing approximately 1.8 million cars in 2023.
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2023-10-18 21:57:00
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