Tesla Slides On Q3 Deliveries: What The Numbers Mean For EV Stock
Portfolio Pulse from Adam Eckert
Tesla Inc reported lower Q3 production and delivery numbers, attributing the decrease to planned factory downtimes for upgrades. The company produced 430,488 vehicles, down from 479,700 in Q2, and delivered 435,059 vehicles, down from 466,140 in Q2. Despite the lower numbers, Tesla's 2023 volume target of 1.8 million vehicles remains unchanged. The company's shares were trading lower following the announcement.
October 02, 2023 | 1:13 pm
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Tesla's Q3 production and delivery numbers are lower than Q2, leading to a decrease in share price. However, the company's 2023 volume target remains unchanged.
Tesla's lower Q3 production and delivery numbers have led to a decrease in its share price. However, the company's long-term outlook remains positive as it has not changed its 2023 volume target. This suggests that the lower Q3 numbers are a temporary setback due to planned factory upgrades, and not indicative of a long-term issue.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100