Tesla sales drop as competition in the electric vehicle market heats up
CBSN
Tesla sales fell sharply last quarter as competition in the electric vehicle market increased worldwide and price cuts the company enacted months ago failed to entice more buyers.
The Austin, Texas, company owned by Elon Musk, said Tuesday it delivered 386,810 vehicles from January through March, almost 9% below the 423,000 it sold during the same period last year. The company blamed the decline in part on phasing in an updated version of the Model 3 sedan at its Fremont, California factory. Plant shutdowns due to shipping diversions in the Red Sea, and an arson attack that knocked out power to its German factory also caused fewer deliveries, it said.
Last year, Tesla dramatically lowered prices by up to $20,000 for some models. In March, it temporarily knocked $1,000 off the Model Y, its top-selling vehicle. The reductions cut into the company's profit margins, which spooked investors.
This story previously aired on Sept. 15, 2018. News report: Today, in a 5-1 decision, the California State Supreme Court ruled that Rodney Alcala did not receive a fair trial. Juror: We, the jury, find the defendant, Rodney James Alcala, guilty of the crime of murder in the first degree. Victim Robin C. Samsoe… "I wanna kill, I wanna kill, I wanna see blood and gore and guts and veins in my teeth. Eat dead burnt bodies. I mean, kill, kill, kill, kill." Jury member [in court]: We, the jury … determine that the penalty to be imposed upon defendant, Rodney James Alcala, to be death. D.A. Cyrus Vance to reporters: For both families, who had lost all hope that these cases would ever be solved, the pleas by Rodney Alcala, and today's sentencing brings closure to painful chapters in their lives.
A new law aims to strengthen reporting requirements for technology companies to combat online predators seeking to exploit children. One dad told CBS News that he hopes the law will save children like his son, who died by suicide after becoming ensnared in a "sextortion" scheme when he was 17 years old.