Tesla shares are trading lower after the company announced Q3 delivery and production figures. The company said the sequential decline in volumes was caused by planned downtimes for factory upgrades and its 2023 volume target remains unchanged.
Portfolio Pulse from Bill Haddad
Tesla's shares are trading lower following the announcement of Q3 delivery and production figures. The company attributes the sequential decline in volumes to planned factory downtimes for upgrades. However, Tesla maintains its 2023 volume target.
October 02, 2023 | 1:26 pm
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NEGATIVE IMPACT
Tesla's stock is trading lower due to lower Q3 delivery and production figures. The company attributes this to planned factory upgrades and maintains its 2023 volume target.
The lower Q3 delivery and production figures have led to a decrease in Tesla's stock price. However, the company's assertion that this is due to planned factory upgrades and not a decrease in demand could mitigate the impact. The unchanged 2023 volume target also indicates Tesla's confidence in its future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100