15:51:08 EDT Fri 03 May 2024
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CA



Tesla Inc CDRs (CAD Hedged)
Symbol TSLA
Shares Issued 21,150,000
Close 2024-04-02 C$ 15.37
Market Cap C$ 325,075,500
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Globe/NYT say competition begins eating at Tesla's lead

2024-04-03 08:20 ET - In the News

The Globe and Mail reports in its Wednesday edition that Tesla appears to be losing command of the market it effectively created after it posted a stunning drop in quarterly sales Tuesday, raising fresh questions about Elon Musk's leadership of the company. A New York Times dispatch to The Globe says the sales decline caught investors off guard as rivals such as BYD of China and Kia and Hyundai of South Korea increased their electric-vehicle sales, suggesting that slower overall demand for battery-powered models was not the only explanation for Tesla's problems. The EV market is evolving in ways that may not favour Tesla. In contrast to the early adopters who fuelled Tesla's rise, mainstream buyers may be put off by the vehicles' unconventional design, including minimalist interiors and lack of buttons and switches. Almost all functions in Tesla vehicles are controlled from a large screen on the dashboard. The system "makes it thoroughly distracting to adjust almost anything within the vehicle while motoring down the road," Consumer Reports wrote in a review Tuesday of a new version of the Model 3. Tesla, which sells cars on-line and does not have many showrooms, is often the target of complaints about poor service.

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