Tesla sales slow, missing Wall Street forecasts 10/02/2023

[fholbert]

Tesla sales slow, missing Wall Street forecasts​

The world’s largest electric car maker reported it delivered 435,000 vehicles in the period. That’s down 7% from the 466,000 deliveries in the second quarter. Analysts surveyed by FactSet Research had expected sales to come in at 461,000, just short of second quarter numbers.

Tesla said it should still be able to hit its target of full-year sales of 1.8 million vehicles, but to do so it would have to achieve about a 9% increase in sales in the final three months of the year compared to the just completed quarter.

https://www.cnn.com/2023/10/02/business/tesla-sales/index.html

 

[EV_Travels]

It's called higher interest rates and the Fed might do another one before the year is over.

 

[archae86]

Worth mentioning that deliveries slightly exceeded production, so buildup of inventory because of insufficient demand seems not to have been an important factor.

The Financial Times story on this matter mentions that factory downtime (which was forecast a quarter ago) which reduced output was related to the model 3 refresh and Cybertruck preparation.

 

[Erik The Red]

Also they stopped some production lines for retooling for the highland as well