Tesla delivers 343,000 cars in third quarter
The US electric automaker Tesla on Sunday (local time) announced the delivery and production numbers for the third quarter, stating that it is lower than expected, according to media reports.
- Country:
- United States
The US electric automaker Tesla on Sunday (local time) announced the delivery and production numbers for the third quarter, stating that it is lower than expected, according to media reports. According to CNN, a total of 343,000 deliveries and 365,000 vehicles were built by Telsa. It produced 19,935 and delivered 18,672 Model S and X vehicles. It produced 345,988 Model 3 and Y cars and delivered 325,158.
The lower-than-expected numbers resulted from production stoppages to update its factory in Shanghai. Refinitiv analysts expected Tesla to deliver 359,162 cars, CNN reported. Total production increased from the prior quarter of 2022, when Tesla said it made 258,580 vehicles.
"While Tesla had delivery challenges in the quarter, this is clearly a soft number that the Street will fret about it," Daniel Ives, managing director and senior equity analyst at Wedbush Securities said as quoted by CNN. "Given the macro environment, a disappointing delivery number from Tesla will be a near-term step back for the bull story with a lot riding on 4Q deliveries," he added.
CNBC reported that during the year-ago quarter, Tesla reported deliveries of 254,695 vehicles, and that it had produced 237,823 cars including just 8,941 Model S and X vehicles, which are the company's more expensive sedan and SUV with falcon-wing doors, respectively. In July sales of Teslas built in China plummeted 64 per cent from the month prior due to an ambitious upgrade of the company's Shanghai factory, as per CNN. The shutdown in production came as the company began recovering from a months-long Covid lockdown in the city that had disrupted production and supplies. (ANI)
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
- READ MORE ON:
- Daniel Ives
- Model 3
- Wedbush Securities
- Covid
- Teslas
- Shanghai
- Tesla
- China
ALSO READ
My taxable income plummeted to Rs 680 in 2021-22 due to Covid-19 losses: BJP's Chandrasekhar
MSMEs in TN crushed by triple impact of demonetisation, GST, and unplanned COVID lockdowns: Congress
Health News Roundup: Sanofi to overhaul US operations of vaccines, cut jobs; After COVID, WHO defines disease spread 'through air' and more
SC adjourns for July Ramdev's plea for clubbing of FIRs on his remarks on efficacy of allopathy to cure Covid-19
Health News Roundup: USDA confirms cow-to-cow transmission a factor in bird flu spread; After COVID, WHO defines disease spread 'through air' and more