By Akash Sriram and Hyunjoo Jin
(Reuters) – Tesla is expected to report sluggish first-quarter deliveries next week as the boost from its price cuts wanes and the U.S. automaker grapples with strong competition for buyers in a slowing electric-vehicle market.
After years of rapid sales growth that helped turn it into the world’s most valuable automaker, Tesla is bracing for a slowdown in 2024.
The company has been slow to refresh its aging models at a time high interest rates have sapped consumer appetite for big-ticket items and rivals in China, the world’s largest auto market, are rolling out cheap models.
“Tesla may be witnessing price-cut fatigue with consumers and may be testing profitability levels that the company may not find acceptable,” Morgan Stanley analyst Adam Jonas said in a report to clients earlier this month.
“Such conditions may not significantly improve near-term given the age of Tesla’s product line-up.”
The dour…
