Tesla misses estimates for quarterly deliveries; shares fall
Tesla misses estimates for quarterly deliveries; shares fall
Tesla missed market estimates for third-quarter deliveries on Monday as planned upgrades at its factories forced production halts, sending its shares down 2.4% in early trading.
Tesla missed market estimates for third-quarter deliveries on Monday as planned upgrades at its factories forced production halts, sending its shares down 2.4% in early trading.
The electric-vehicle maker handed over 435,059 vehicles in the three months to Sept. 30, down nearly 7% from the preceding quarter, but said its target to deliver 1.8 million vehicles this year remained unchanged.
An LSEG poll of eight analysts estimated deliveries of 459,949 vehicles, with the lowest at 442,000 and the highest at 511,405.
The electric vehicle market has seen a slowdown in the United States, although there are signs of growth, Canalys Research said in its report.
"While Tesla remains a dominant force in the US EV market for 2023, there is an increasing demand for a wider range of EV options to satisfy the growing consumer interest in electric vehicles," said Ashwin Amberkar, analyst at the market research firm.
The world's most valuable automaker produced 430,488 vehicles in the third quarter, compared with 479,700 in the second quarter and 365,923 a year earlier.
According to the article, they produced 17.6% more cars than the same quarter last year. This is FAR from bad news for Tesla. (Edit: Fixed the math)
If people are watching what is going on within Tesla right now, they are releasing a majorly redesigned Model 3, both interior and exterior, which is now getting the attention of potential buyers. Slows down manufacturing with the retooling.
Bad call as far as numbers/estimates goes, but hopefully this will improve the "cheap car feel" meme that the Model 3 currently has.
Only if they make it right, which would be a first
Permanently Deleted
You are joking, surely? Their QA is terrible. Numerous documented cases of steering wheels coming off, loose trimmings inside the car or them just catching fire. Buying a tesla in 2023 is falling for marketing hype, especially considering all the alternatives from other manufacturers.
model x and s are but the 3 and y are just cheap boxes with a rectangular screen
The X and S are also crap quality when compared to luxury cars in their price range. The build quality on a $80k+ Audi, BMW, or Mercedes is much higher than what you’ll get in a Tesla, and they don’t have those goofball gull wing doors that Elon insisted on and that are trash.
I was never a fan of Elon, but what turned me off from Tesla five years ago was build quality issues, not the fact that he’s a horrible person. That, and the more I learned about the company and its engineering and manufacturing, the less I trusted what they were shipping. You can learn a lot just talking to people in bars in Silicon Valley.
This is a joke right? This has to be a joke. Guys, no way this isn't a joke.