Musk in a conference call told, “I think we will introduce it this year.” Prior to this, Musk has not been able to meet the goals set for the self-driving capability of Tesla’s electric cars several times. Due to accidents involving Tesla’s cars, the company has also faced legal and regulatory difficulties regarding this technology. The company says that this technology does not make the car autonomous and requires monitoring from the driver’s side. However, Musk says the trend is towards full self-driving.
Tesla’s financial head, Zachary Kirkhorn, said that the company’s margin in the first quarter was affected by the delay in revenue from FSD software, in addition to the reduction in price. Sam Abuelsamid, analyst at Guidehouse Insights, told that some changes are being made to the hardware of Tesla cars. This temporarily disabled some FSD features in newer vehicles. Last year, the company removed ultrasonic sensors from its Model 3 and Model Y cars.
This year the company has continuously cut the prices of its cars. Through this, Tesla wants to increase their demand. Musk has targeted to emphasize volume rather than profit. The company’s flagship Model S will start at $84,990 after a drop of about $5,000, and the Model X will start at Rs 94,990. Rising inflation and costlier interest rates have affected the demand for new cars. It has also launched a new version of the entry level Model Y. Tesla has delivered record deliveries of electric vehicles in the first three months of this year. However, despite the reduction in prices, the company’s sales growth has been low on a quarter-on-quarter basis. The increasing competition and the weak state of the economy are the main reasons behind this. Tesla has delivered 4,22,875 vehicles from January to March.
(This news has not been edited by NDTV team. It is published directly from syndicate feed.)
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