UPDATE 1-Tesla delivers fewer than expected Model 3 sedans in Q1


Reuters | Updated: 04-04-2019 06:01 IST | Created: 04-04-2019 06:01 IST
UPDATE 1-Tesla delivers fewer than expected Model 3 sedans in Q1

Tesla Inc delivered fewer than expected Model 3 sedans in its first quarter as the electric car maker shifted its sales focus to international markets, where transit times are longer. Tesla delivered 50,900 Model 3s in the quarter, falling short of analysts' estimates of 58,900, according to IBES data from Refinitiv.

Deliveries of all models fell 31 percent from the fourth quarter to 63,000 vehicles, including 12,100 Model S sedans and Model X SUVs. Tesla said first-quarter net income would be negatively impacted because of the lower-than-expected delivery volumes and several pricing adjustments.

Total production fell 10.92 percent to 77,100 vehicles from 86,555 vehicles in fourth quarter. The company churned out 62,950 Model 3s, up from a total of 61,394 Model 3s in the fourth quarter. (Reporting by Alexandria Sage in San Fransisco and Rama Venkat in Bengaluru; Editing by Sandra Maler and Lisa Shumaker)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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