Volkswagen:Quarterly Results/2023 Q1: Difference between revisions

Volkswagen:Quarterly Results/2023 Q1 (view source)

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 On Tesla's marketing strategy, Musk said “We’ve taken a view that pushing for higher volumes and a larger fleet is the right choice here, versus a lower volume and higher margin.” <ref name=":1" />This is proven by its decision to cut prices for some of its Model Y and Model 3 electric vehicles in the U.S for the sixt time on Tuesday. Model Y “long range” and “performance”  and Model 3 “rear-wheel drive” prices were cut by $3,000 and $2,000, respectively on Tuesday<ref>https://www.cnbc.com/2023/04/19/tesla-cuts-us-prices-for-sixth-time-this-year-ahead-of-q1-results.html</ref>. He believes that over time Tesla will be able to generate more margin through autonomy.
+When asked about demand for its vehicles following its most recent price cuts, Musk said, " I think the overall thing we can say is that orders are in excess of production."<ref name=":1" />
+Despite Musk's warnings that the rising interest rate will hurt consumers, the company continues to have an optimistic view of demand. They maintained their production outlook for the year at 1.8 million vehicles(+31% year-over-year)<ref>https://tesla-cdn.thron.com/static/ZXSBN8_TSLA_Q1_2023_Update_ABMJPG.pdf?xseo=&response-content-disposition=inline%3Bfilename%3D%22e826b065-cc14-467c-8c9c-e1feb7189ba8.pdf%22 (page 12)</ref>.
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