Ultima Markets[Market Hotspot] Tesla evaluates the importance of job positions and triggers layoffs...

A recent report showed that Tesla's managers were asked to evaluate positions that were crucial to the company's operations, leading to speculation of large-scale layoffs within the company. After Tesla cancelled the biannual performance evaluation for some employees, the company sent this inquiry to the management team.

This report is released in the face of fierce competition and weak demand in the global electric vehicle market for the company. Another report stated that due to consumer doubts about Tesla's production quality, Tesla only sold one car in South Korea last month.

In addition, Tesla faces significant competition in China as its main competitor BYD continues to maintain steady sales growth due to price wars.

Despite Tesla's efforts to lower the price of one-third of its products, BYD's sales have still achieved steady growth, with growth exceeding double. The decline in Tesla's market share is worrying, leading analysts to lower their stock ratings and target prices.

(Comparison of unit sales between Tesla and BYD

In contrast, Tesla is 2023 The fourth quarter of the year saw a significant decline in profits, and CEO Elon-Musk（Elon Musk）Warning statement,2024 The annual growth will "Stay sluggish"。

On the other hand, although BYD did not meet profit expectations due to significant price reductions, it performed strongly in terms of delivery. At present, due to the bleak prospects and intense price wars in the electric vehicle industry, the performance of the two companies may further differentiate due to different target strategies.

As of press release, Tesla's stock price has slightly increased during post market trading hours 0.02%to 187.62 USD.

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