Stock Ticker

German Tesla plant to step up output despite weakness in Europe – pick up in demand seen

Tesla’s German plant will step up output in the second half of the year thanks to stronger-than-expected demand, plant manager André Thierig told news agency DPA. He said production plans for Q3 and Q4 have been revised higher, though without giving exact numbers, and added that the company sees positive signals across its markets.

The optimism contrasts with recent weak sales data. Registrations of new Teslas fell 39% in Germany last month and are down 56% year-to-date. Similar steep drops were seen in France, Belgium, Denmark and Sweden, while Norway was a rare bright spot with double-digit gains. Executives, including Elon Musk, have blamed the slump on Model Y production changes at the Berlin-area plant, which disrupted supply temporarily.

Tesla’s increase in production guidance at its German factory could reinforce investor bullishness (the stock jumped late last week) following recent share accumulation, despite weak European sales and disruptions from the Model Y redesign.

Source link

Get RawNews Daily

Stay informed with our RawNews daily newsletter email

Liverpool defender left out of World Cup squad

Madonna Covering Rent For Musicians Working At Her Old NYC Rehearsal Space

Up 16.5%! Here’s why Hollywood Bowl stock smashed the FTSE 250 today

Trump says Iran would not get sanctions relief in exchange for giving up enriched uranium