Tesla's stock surged 3.7% to $251.80 on NASDAQ, driven by impressive production figures and strategic employee initiatives. The electric vehicle giant recently celebrated the production of its seven millionth car, underscoring its continued market dominance. Third-quarter 2024 saw a 9% increase in production, with nearly 470,000 vehicles manufactured. This growth, coupled with a 6% rise in deliveries, reflects Tesla's robust demand and operational efficiency, particularly at its Shanghai Gigafactory.
Employee Satisfaction Initiatives Fuel Investor Confidence
To bolster workforce morale and retention, Tesla announced a 4% salary increase effective November 1st, following a previous €2,500 production wage hike in February 2024. The company also plans to convert 500 temporary workers to permanent status, aiming to reduce workload and strengthen employee loyalty. These moves have resonated positively with investors, contributing to the stock's upward trajectory. Despite potential market volatility, analysts maintain optimism, projecting a full-year 2024 earnings per share of $2.41, reflecting sustained confidence in Tesla's long-term performance and market position.
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Tesla Stock: New Analysis - 06 NovemberFresh Tesla information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
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