Tesla electric car deliveries in the third quarter did not meet investors' expectations
The company shipped 7% fewer cars than in the second quarter
Tesla's electric vehicle shipments in the third quarter did not meet market expectations as the planned modernization of its facilities led to a halt in production.
Source. Reuters
The company shipped 435,059 vehicles in the three months ended September 30, down almost 7% from the second quarter.
However, Tesla said on Monday that its target of delivering 1.8 million electric vehicles this year remains in place.
Production in the third quarter totaled 430,488 electric cars, compared to 479,700 in April-June and 365,923 units in the third quarter of 2022.
Eight analysts surveyed by LSEG predicted the number of Tesla cars delivered at 459,949 units, the lower estimate was 442,000 units, the highest – 511,405 units.
Shares of the world's most expensive automaker rose 0.55% by the close of trading on Wall Street on Monday.
Some analysts believe that the modernization of factories may contribute to the growth of supplies in the fourth quarter, allowing Tesla to update the model range and better compete with rivals such as Ford in the United States and BYD in China.
Background. As a reminder, Erdogan is calling on Musk to build a Tesla factory in Turkey.
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