Tesla Inc. missed first-quarter delivery estimates on Sunday as a bleak economic outlook and increased competition hampered the electric automaker's efforts to boost demand with price cuts.
Investors are watching CEO Elon Musk's gamble that price cuts will spur sales, offsetting profits from shrinking margins. Shares have 68 percent and Tesla will win the price war, though the stock is down more than 50 percent from its peak in November 2021.
The problems have also undermined Tesla's efforts to boost demand with price cuts at a time when the economy is in turmoil and startups such as Lucid Group ( LCID.O ) and legacy players including Ford Motor Co ( F.N ) are under the pressure of increasing competition.
