Crisis at Tesla? Global deliveries of Elon Musk’s automaker fell

Tesla Inc. delivered 435,059 cars worldwide in the third quarterwhile periods of inactivity in its factories caused the first drop in shipments in more than a year.

The results, published on Monday, did not meet expectations. Several analysts of Wall Street had cut their delivery estimates in recent days, and the consensus compiled by Bloomberg fell to 456,722 on Friday. In the second quarter, Tesla delivered 466,140 vehicles.

The electric vehicle manufacturer noted that would deliver fewer cars in the period while was preparing its factories to produce the renewed Model 3 sedan and the Cybertruck, which is not yet released. Analysts still expect Tesla to produce and sell more than 1.8 million cars in 2023, a record volume.

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“Our volume target for 2023 of around 1.8 million vehicles remains unchanged“the company said in a statement.

The actions of tesla fell 2.3% at US$244.45 at 9:33 am in New York.

tesla took steps to boost sales so far this year, which has helped maintain shipmentss amid factory disruptions and high inflation. The electric vehicle maker has been cutting prices on its models throughout the year, with discounts of up to 34% for the Model

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Tesla does not break down sales by region, but the United States and China are its main markets and most of the sales were of the Model 3 sedan and Y crossover. Tesla reported that it produced 430,488 vehicles during the quarter.

The lowest sales this quarter will likely affect financial results. Tesla will release its third quarter 2023 numbers on Wednesday, October 18, 2023 after the market closes.

The company manufactures the Model S, X, 3 and Y at its plant in Fremont, California. The Model 3 and Y are produced at the Shanghai plant, while the newer plants in Berlin and Austin make the Model Y.

Translated by Paulina Munita.

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