Elon Musk says that achieving free cash flow with Tesla Inc. (NASDAQ:TSLA), when its company rivals like Lucid Group Inc. (NASDAQ:LCID), Rivian Technologies Inc. (NASDAQ:RIVN) are burning through cash, is difficult.
‘Harder Than It Looks,' Says Elon Musk
Taking to social media platform X on Sunday, Musk shared his thoughts when replying to a post illustrating a graph that showcased Tesla's positive free cash flow when compared with competitors.
"Ex Tesla, the shown companies accrued $88 billion in cash burn," the post said while also adding that Rivian was the most underperforming company in terms of cash burn.
"This is harder than it looks," Musk said in his response to the post.
Tesla's Sales Woes Worsen In Multiple Regions
Despite the positive cash flow, the company's sales have been lackluster with double-digit declines in multiple regions across the globe, like France, as well as sales falling over 60% in countries like the UK.
Tesla sales also fell in California by over 21% despite the company's Model 3 and Model Y topping the sales charts in the state, indicating falling sales domestically for Musk's EV giant.
Tesla Secures Texas Ride-Hailing Permit
However, Tesla securing a permit to operate ride-hailing services in Texas could provide the company with a major boost as Musk targets the ambitious goal of serving over half of the U.S. population with Tesla Robotaxis by the end of the year.
Tesla scores well on Momentum, Quality and Growth metrics, but offers poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Read Next:
Photo Courtesy: Shutterstock.com
