results missed market expectations. delayed results, a missed market expectations. tesla s income and earnings fell by more than 20% in this past quarter compared to the same time last year. it is a big number, but not totally unexpected because the company has been slashing prices of its top selling vehicles over the past year. samira hussain has more from new york. bringing in 20% less income is, well, not good. what helps the electric car maker, however, is that it warned wall street this was coming, so it didn t come as a complete surprise given tesla cut prices on its top selling cars several times last year and in fact did it again this week. now, tesla is grappling with higher borrowing costs for consumers, slowing demand for their cars and so much more competition in the electric car market. so the price cuts did the trick. the company saw a 36% jump in deliveries, but the price cuts also mean that the profit margins on each card sold have gotten smaller. let s stay w
by more than 20% in this past quarter compared to the same time last year. it is a big number but not totally unexpected because the company has been slashing prices of its top selling vehicles over the past year. top-selling vehicles over the past year- top-selling vehicles over the ast ear. :: , ,, past year. bringing in 20% less income is past year. bringing in 20% less income is well, past year. bringing in 20% less income is well, not past year. bringing in 20% less income is well, not good. - past year. bringing in 20% less j income is well, not good. what helps the electric car maker however is that it warned wall street this was coming. so it didn t come as a complete surprise, giving tessa cut prices on its top selling cars several times last year. in fact did it again this week. tesla is grappling with higher borrowing costs for consumers, slowing demand for their cars and so much more competition in the electric car market. the price cuts did the trick, th
let s stay with the car sector because jaguar land rover is investing some $19 billion to ramp up its ev production. the investment will be made over the course of five years and the plan includes turning the halewood plant in the uk into an all electric manufacturing facility. the british luxury car maker is also planning for a new all electric range rover that will be due in 2025. jaguar land rover is owned by india s tata motors. now, major chip maker asml has reported its first quarter earnings and posted a three three fold jump in net profit and beating analysts expectations. taiwan s tsmc is also due to report its quarterly earnings later today, and we ll be watching to see if there are any signs of recovery there after enjoying a boom during the covid 19 lockdown period. semiconductor companies warned of a gloomier outlook
gotten smaller. margins on each car sold have gotten smaller. let s stay with the car sector gotten smaller. let s stay with the car sector because - gotten smaller. let s stay with the car sector because jaguarl the car sector because jaguar land rover are investing $90 billion to ramp up its production. the investment will be made over a quarter of five years in the plan includes churning the hail would plant to the uk into in all electric manufacturing facility. the british luxury car maker is also planning for a new all electric range rover that will be due in 2025. jaguar land is owned by india s company. now to the tech sector because major chip maker asm l has reported its first quarter earnings and posted a three fold jump in net profit and beating analyst expectations. taiwan also do to report its quarterly earnings today and we will be watching to see if there are any signs of recovery there. after enjoying a boom during the covid i9 lockdown period, semiconductor companie