Tesla Extends Model 3 Delivery Times In China: Report
Portfolio Pulse from Shivani Kumaresan
Tesla Inc (NASDAQ:TSLA) has extended the delivery wait times for its Model 3 sedan in China to 3-5 weeks. The Model Y's delivery time remains unchanged. Tesla's Shanghai factory, which produces both models, has an annual production capacity of over 950,000 units. Tesla sold 59,261 vehicles in China in June, a decrease from last year but an increase from May. Tesla's stock has lost over 11% in the last 12 months. Investors can gain exposure to Tesla via ETFs like XLY and FDIS.
July 17, 2024 | 12:25 pm
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NEGATIVE IMPACT
The Fidelity MSCI Consumer Discretionary Index ETF (NYSE:FDIS) includes Tesla, which has extended Model 3 delivery times in China and reported mixed sales trends. Tesla's stock has declined over 11% in the last 12 months.
FDIS's performance could be impacted by Tesla's extended delivery times and mixed sales trends, as Tesla is a significant component of the ETF. The decline in Tesla's stock over the past year adds to the negative outlook.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Tesla has extended the delivery wait times for its Model 3 sedan in China to 3-5 weeks. June sales in China show a mixed trend with a decrease year-on-year but an increase from May. Tesla's stock has lost over 11% in the last 12 months.
The extension of delivery times for the Model 3 in China could indicate supply chain issues or increased demand, both of which could impact short-term sales and investor sentiment negatively. The mixed sales trend in June and the stock's decline over the past year further contribute to a negative short-term outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
The Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) includes Tesla, which has extended Model 3 delivery times in China and reported mixed sales trends. Tesla's stock has declined over 11% in the last 12 months.
XLY's performance could be impacted by Tesla's extended delivery times and mixed sales trends, as Tesla is a significant component of the ETF. The decline in Tesla's stock over the past year adds to the negative outlook.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50