Respond to prefers-color-scheme dark in app web views

Follow section front redirects in Spectrum

Enable NLP source in PCS for load testing

Switch off the News Alerts Survey Widget when we have enough responses

Poll to determine if new LUF updates are available

Allows the winning A/B test variant to be turned on without Spectrum deployment

Show infinite scrolling sections in Assembler MultiView

Show option for NLP article summaries in Action Bar

Show NLP summaries collection recirc on article pages

A general feature flag for Recipe Features that aren't yet released

Feature flag for media team features that aren't yet released

Use new Orca video player for preroll plugin in Spectrum

Show the snow tracker (instead of the heat tracker) on Spectrum

Social Security has to be fixed. But you still need your own savings.

An I bond is now at 4.28 percent. Are they still a good deal?

Use these 6 points to say no to a college you and your kid can’t afford

Middle East conflict live updates: WHO says health services in south Gaza will run out of fuel in three days

Commerce Department revokes more export licenses to China’s Huawei

U.S. signals optimism for Gaza cease-fire as Israel moves into Rafah 

‘Look at the U.S.A.’: A photographer’s reflection on post-9/11 conflict

How Trump’s allies amplify his Truth Social messages to the wider world

In photos: The scene after tornadoes struck Michigan and Oklahoma 

Ask Amy: I want to be closer with my brother. He never reaches out to me.

Miss Manners: I’m offended by a golfer’s skirt choice

Carolyn Hax: Family pushes siblings to ‘make amends’ after their mother’s death

Postal worker finds WWII-era letters, drives 5 hours to deliver them

Strangers help Sesame Street puppeteer after heirloom necklace was stolen

Teen grabs wheel when driver passes out and school bus veers into traffic

A college professor wants to use Section 230 against Big Tech

Apple plays up AI potential in new iPads

Nats go over .500 the hard way by beating the O’s and Corbin Burnes

A look at what has changed since the Nationals were last above .500

Baseball can crush rookies. Why hasn’t it crushed Trey Lipscomb?

In Arizona, election workers trained with deepfakes to prepare for 2024

Election 2024 latest news: Biden back in the battleground state of Wisconsin

RFK Jr’s ‘history lesson’ on Russia’s invasion of Ukraine flunks the fact test

The Trump-Biden battle over the 2017 tax cut

That time football legend, rig-driving eligible bachelor Biden was arrested

The FTC’s noncompete clause rule goes too far

The next global crisis could come from the sun. We should prepare now.

The crisis Biden and Trump don’t want to deal with

In court, Stormy Daniels pulled a Trump on Trump 

France tries to shed its rude reputation ahead of the Olympics

Don’t be a jerk at the airport: A guide for headphones

The new cure-all for vacation excess: the IV drip 

US-VOTE-POLITICS-ECONOMY-BIDEN

David Paul Morris

Tesla shares plummeted more than 10 percent Thursday, wiping billions off the company’s valuation after CEO Elon Musk failed to allay concerns about stagnating growth and persistent price cuts on the company’s earnings call.

The electric-vehicle maker ushered in steep price cuts to maintain demand throughout 2023, resulting in 38 percent growth in vehicle deliveries that hardly translated into additional revenue, prompting worry from investors and analysts.

On Wednesday, Tesla reported quarterly results that <a href="https://www.washingtonpost.com/business/2024/01/24/tesla-net-income-tax-benefit/d38475b8-bb00-11ee-b176-fe5fd794e716_story.html" target=_blank>missed analysts’ expectations</a>, including annual revenue that grew by merely 3 percent despite significantly higher sales volume, and a forecast for a potential “notably lower growth rate” than in 2023 as it invests in a next-generation vehicle it says it will begin building in 2025.

EV transition cools as demand slows and automakers trim production

Meanwhile,  Musk is asking for more control over the company after drawing down a significant portion of his Tesla stock amid his purchase of Twitter in 2022.

“Tesla is currently between two major growth waves,” Musk told investors Wednesday. The company is preparing to ship a<b> </b>new iteration of its driver-assistance system, he said, and is making progress toward its next vehicle.

Wall Street observers expected better news out of the earnings call. Dan Ives, a tech analyst with Wedbush Securities, said executives failed to address short-term concerns, even though he remains sold on the company’s long-term value.

“We were dead wrong expecting Musk and team to step up like adults in the room on the call and give a strategic and financial overview of the ongoing price cuts, margin structure and fluctuating demand. … instead we got a high-level Tesla long-term view with another train wreck conference call,” Ives wrote Thursday.

The company’s falling margins and “constant never-ending price cuts” are concerns, Ives wrote.

Gene Munster, managing partner of Deepwater Asset Management, said the company’s outlook gave investors pause.

“This was the most sobering guidance I’ve seen from Tesla,” he said.

Want to try an EV? Rentals are getting cheaper.

Musk also faced questions about his public demand for 25 percent of the company’s voting shares. Musk said Wednesday he wants the power to resist activist investors who may have “strange ideas” about how to run Tesla.

“I don’t want to control it, but if I have so little influence over the company at that stage, I could sort of be booted out by some random shareholder advisory firm,” Musk said.

Tesla laid out other plans for 2024 on the call, including rolling out the latest version of its Full Self-Driving Beta software, the company’s advanced driver-assistance system, to around 400,000 users.

But the company has faced new challenges with regulators when it comes to its driver-assistance software, Autopilot, which can maneuver its vehicles from highway on-ramp to off-ramp, maintaining a set distance and speed and even making lane changes. Full Self-Driving brings those capabilities to surface streets, allowing the vehicles to navigate from point to point, following road signs and making turns. Drivers must pay full attention at all times while using the software.

Tesla <a href="https://www.washingtonpost.com/technology/2023/12/13/tesla-autopilot-recall/" target=_blank>agreed</a> last month to recall 2 million vehicles, nearly every car it has produced, over concerns that Autopilot did not adequately safeguard against driver misuse. The <a href="https://www.washingtonpost.com/technology/2023/12/13/tesla-autopilot-recall/" target=_blank>recall</a>, conducted via a remote update, followed a series of meetings with regulators in late 2023 amid a larger investigation into Autopilot.

Days before the recall was announced, The Washington Post published <a href="https://www.washingtonpost.com/technology/2023/12/10/tesla-autopilot-crash/" target=_blank>an investigation identifying</a> at least eight fatal or serious crashes involving Autopilot in locations where the software was not intended to be used.

Emory University, b.a.

Georgetown University, masters in public policy

Aaron Gregg is a business reporter for the Washington Post.

Aaron Gregg

University of Nebraska-Lincoln

Faiz Siddiqui is a technology reporter with The Washington Post's Business Desk covering companies such as Tesla and Twitter. His area of coverage has also included ride-hailing and the race to build autonomous cars. Prior to that, he covered the D.C. Metro and local transportation scene.

Faiz Siddiqui

Tesla shares plummet as analysts decry ‘train wreck’ investor call

the-washington-post

Tesla Recalls 2 Million Cars to Fix Autopilot Safety Flaws

Bloomberg

other

Tesla-bg

name

washpost

prism://prism.query/site-articles-only,/business&limit=20

Get a curated selection of 10 of our best stories in your inbox every weekend.

Business

The source for business news and analysis. Covering economic policy, business policy, financial news, economic issues, stock market data, local business, technology and more.

Cars

rowse inventory listings and specials for used and new cars in DC, VA, and MD. Read expert reviews, shop for deals, and get tips from Warren Brown.