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Tesla shares experienced a significant decline on Friday as the electric vehicle giant grapples with various challenges, particularly in its crucial Chinese market.that Tesla, the world’s leading electric vehicle manufacturer, has been facing a series of setbacks that have led to a substantial drop in its stock value. The company’s shares have already shed more than $240 billion in value this year, making it theon the S&P 500.
According to Bloomberg News, Tesla has trimmed production at its Shanghai facility, reducing shifts for the Model Y midsize SUV and Model 3 sedan to five days per week from the usual pace of around 6 1/2 days. This decision comes as Tesla struggles with weaker-than-expected sales figures in China, where volumes fell to the lowest levels in more than a year last month.
Tesla’s profit margins, a closely watched metric by Wall Street analysts, have also been under pressure. The company reported a narrowing of margins to 17.6 percent over the three months ended in December, down from 23.8% percent in the year-earlier period. Tesla had previously warned investors that vehicle-delivery growth rates would be “notably lower” than 2023 levels, and that profit margins would improve only if central banks cut interest rates.
Despite the challenges, some analysts remain optimistic about Tesla’s long-term prospects. CFRA analyst Garrett Nelson noted that while the “high-fixed-cost nature of auto manufacturing” continues to pressure Tesla’s profit margins, declining battery costs could be a “silver lining” for the beaten-down shares.
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