Tesla. Inc recently announced its financial results for the 1st quarter, 2020. Shareholders expressed concerns over the company’s future business outlook and upcoming financial ventures.
The main concern for Tesla shareholders remains, how to boost demand amidst a global recession caused by the pandemic crisis.
Tesla Investors Focus On Potential Future Ventures
While many businesses have suffered huge blows due to the recession caused by the prolonged pandemic crisis, questions on Tesla’s financial performance in the first quarter were mainly focused on the company’s plan of expansion into the Robo-taxi market, creation of airless tires and reduction of maintenance costs.
Tesla also announced its intentions to focus on self-driving technology, which will affect the company’s future plans.
Only 4 Out Of 50 Top Questions Related To Coronavirus In Tesla Earnings Call
The investors generally vote on several questions and only the popular ones are answered by the company CEO, Elon Musk. Out of the questions put forward during this earnings announcement, only a meager number of 4 questions were related to the global pandemic and the company’s take on it.
One investor asked whether Tesla had any plans to encompass the grocery-delivery market which has skyrocketed in demand amidst the pandemic. Another investor sought answers to Tesla’s protection schemes to safeguard US factory employees.
Tesla Holding Strong While Others Show Slump In Sales
As Tesla reports steady sales in the 1st quarter, other car manufacturing companies complain of suffering from the pandemic’s impact on the global economy.
Analysts predict that the compound annual growth is likely to fall. Musk’s initial 50% compound growth rate, according to expert analysts, is likely to fall by 20%.
Tesla was supposed to resume operations from the 4th of May but that is likely to get postponed given the extended lockdown orders by Bay Area health officials till the end of this month.