Written by Cláudio Afonso | [email protected] | LinkedIn | X
On Tuesday, Tesla reported producing 433,371 vehicles, with 386,783 delivered, falling short of Wall Street’s expectation of 431,000 units delivered.
“Decline in volumes was partially due to the early phase of the production ramp of the updated Model 3 at our Fremont factory and factory shutdowns resulting from shipping diversions caused by the Red Sea conflict and an arson attack at Gigafactory Berlin,” the company stated.
According to data from the China Passenger Car Association (CPCA), Tesla experienced a marginal uptick in sales of its China-made electric vehicles in March, totaling 89,064 units. This represents a 0.2% increase compared to the previous year.
As of time of writing, Tesla stock is trading 7% lower on the news at $162.91 per share.
Tesla will report its financial results for the first quarter of 2024 after market close on Tuesday, April 23rd followed by the conference call.
(story being updated)
Written by Cláudio Afonso | [email protected] | LinkedIn | X
