Traffic jam:   0

Tesla's Bold Move: Advertising Strategy to Overcome Challenges and Missed Margin Target

17 May 2023
2 min.
Tesla's Bold Move: Advertising Strategy to Overcome Challenges and Missed Margin Target

Musk's definitive statement

At Tesla's annual shareholder meeting in Austin, Texas, CEO Elon Musk acknowledged the company's vulnerability to the global economy and provided insights into the challenges it may face over the next 12 months.

Rumor Clarification and Musk's Commitment

Addressing market rumors, Musk assured shareholders that he has no plans to step down as CEO of Tesla. His unequivocal statement, "It ain't so," provided clarity and instilled confidence in the leadership stability of the company.

New Models and Roadster Production

Musk unveils Tesla's future product lineup, including two new mass-market models. Additionally, production of the eagerly awaited Roadster electric sports car begins next year, building anticipation among shareholders.

Advertising Strategy and Missed Margin Target

In light of a dynamic market, Musk unveiled Tesla's venture into advertising. This strategic response addresses increased competition and economic obstacles. While Q1 price cuts affected Tesla's margin target, Musk remains determined to overcome these challenges.

Addressing Key-Person Risk and Shareholder Votes

Investors voted against publishing a report on "Key-Person Risk" that aimed to identify key individuals and establish succession plans. This decision reflects confidence in Tesla's existing leadership structure and its ability to navigate leadership transitions effectively.

Future Production Targets and Ethical Practices

Musk envisions Tesla's grand plans: 250K Cybertrucks yearly, as per demand. He hinted at two mass-market models in the works, but no specifics yet. Musk stressed ethical values, vowing a third-party audit to eradicate child labor in cobalt mines, showcasing Tesla's responsible sourcing.

Shareholder Votes and Re-Election

Shareholders voted to re-elect Elon Musk and Chair Robyn Denholm, showing support for the board's recommendations. Despite ISS's concerns about Denholm's oversight of Tesla shares used as collateral for loans, shareholders trust her to fulfill her responsibilities effectively.

Tesla's Stock Performance

Tesla's stock ended the day at $166.52, remaining unchanged, but it saw a 0.6% increase in after-hours trading. Despite this, the stock has dropped about 60% from its November 2021 peak due to tough market conditions and heightened competition for the company.

Persons2 and Companies2 in the news

Chairman of Tesla
1 place
CEO of Tesla
2 place
2 place
Source foto:


Rating companies
JP Morgan Chase
15 Mention
13 Mention
12 Mention
Walt Disney Company
11 Mention
9 Mention
Ford Motor Company
9 Mention
9 Mention
X (Twitter)
8 Mention


News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Died this year
Born this year