On Wednesday, Tesla stock plummeted as traders considered the effect of new regulations designed to increase car sales in the US.
The Texas-based company’s stock dipped by -1.41% to $241.05 apiece in the closed trading. However, it recovered some losses in the after-hours session by surging 0.24% to $241.64 per stock.
Meanwhile, Tesla revealed on Tuesday a 0.00% financing deal on qualifying Model 3 and Model Y acquisitions. The move can save car purchasers about $100.00 monthly, or over $6,000.00 in the life of a 60-month vehicle loan.
The electric vehicle (EV) giant sold over 831,000 cars in the first half of this year, a -7.00 % decline year-over-year. However, it sold roughly 463,000 vehicles in the third quarter, an over 6.00% increase.
However, reports showed that deals mean lower revenues, and investors hope to see stable profit margins.
Tesla’s operating profit margin in Q2 was over 6.00%, lower than the 10.00% data from last year. On the other hand, analysts anticipate boosting margins to over 8.00% in the third quarter and about 9.00% in Q4.
Robotaxi of Tesla Launch Event Looms
Tesla’s Robotaxi launch event, dubbed “We, Robot,” will occur on Thursday at Warner Bros. in Los Angeles, California.
The Robotaxi is designed as a small sedan with two doors, two seats, and a large trunk space intended for luggage.
Furthermore, the car’s user interface is anticipated to be identical to the current production vehicles, which is simplified since some features cannot be manipulated.
Meanwhile, during the EV’s initial presentation, whether Elon Musk would launch a transportation application like Uber was not disclosed.
Tesla’s advanced driver-assistance system is boldly called Full Self-Driving (FSD) despite not being fully autonomous and still requiring a human driver to remain attentive and take control when necessary.
This reality is repeatedly demonstrated in videos posted by fans during drive-along on social media. Also, the car will be priced at $25,000.00, which Musk promised.
