Tesla released its third-quarter deliveries and production figures on Sunday, with 343,000 total deliveries and 365,000 built, below analyst expectations. Related video above: Tesla reports 273 crashes involving driver assistance technology. 18,672 Model S and Model X delivered. Model 3 and Model Y he built 345,988 and delivered 325,158. The lower-than-expected performance was due to the suspension of production in order to update the factory in Shanghai. Analysts at Refinitiv had expected Tesla to deliver 359,162 vehicles. “Given the macro environment, Tesla’s disappointing deliveries will take a step back from its bullish story in the short term as a lot depends on fourth-quarter deliveries,” the report said. It marks an increase in production from the same period last year when 237,823 cars were produced. Up from the previous quarter, when EV makers built 258,580 vehicles. The Tesla Model S and Model X are priced at over $100,000. China-made Tesla sales plummeted 64% from the previous month in July due to an ambitious upgrade of the company’s Shanghai factory. The production stoppage came as the company began to recover from months-long Covid lockdowns in cities that disrupted production and supply. In a report, Tesla said it was becoming “increasingly difficult” to secure vehicle capacity at a reasonable cost towards the end of the quarter. The company will announce third quarter results on October 19.
Tesla released its third-quarter deliveries and production figures on Sunday, which came in below analyst expectations, with total deliveries of 343,000 and production of 365,000.
Related video above: Tesla reports 273 crashes involving driver assistance technology
The world’s most valuable automaker announced that it produced 19,935 and delivered 18,672 Model S and Model X. 345,988 Model 3 and Model Y were built and 325,158 were delivered.
The lower-than-expected performance was due to the suspension of production in order to update the factory in Shanghai. Analysts at Refinitiv had expected Tesla to deliver 359,162 of his cars.
Daniel Ives, Managing Director and Senior Equity Analyst at Wedbush Securities, said: “Given the macro environment, the disappointing delivery numbers from Tesla will be a short-term setback to the bullish story that much rests on fourth-quarter deliveries.”
The report shows an increase in production from the same period last year, when Tesla made 237,823 vehicles, and an increase from the previous quarter, when the EV maker made 258,580 vehicles. Tesla Model S and Model X vehicles are expensive at over $100,000.
Sales of China-made Teslas plummeted 64% from the previous month in July due to an ambitious upgrade of the company’s Shanghai factory. The production stoppage came as the company began to recover from a months-long Covid lockdown in the city that disrupted production and supplies.
August, Tesla’s China-made vehicle wholesale volume Over 172% surge from the previous month.
Tesla said in a report that it was becoming “increasingly difficult” to secure vehicle capacity at a reasonable cost towards the end of the quarter.
Tesla will report its third quarter results on October 19th.
https://www.wgal.com/article/tesla-delivered-343000-cars-third-quarter-falling-short-forecasts/41489188 Tesla delivered 343,000 cars in Q3, below expectations
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