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Tesla's figures are far from Elon Musk's expectations

© Tesla

It's a mixed quarter for Tesla. Elon Musk's firm has just published its figures for the third quarter, and they are below observers' expectations regarding deliveries.

In detail, Wall Street analysts expected between 444,000 and 490,000 electric cars to be delivered over the past three months. Tesla only delivered 435,000 this quarter. In fact, Elon Musk had already anticipated this by explaining that upgrades in factories would lead to regular closures, and therefore a drop in production.

Should we see the glass half full or half full? half empty?

In a press release released for the occasion, Tesla, whose share price has fallen somewhat following these announcements, specifies:

In the third quarter, we produced more than 430,000 vehicles and delivered more of 435,000 vehicles. A sequential decline in volumes was caused by planned downtime for factory upgrades, as discussed during the last earnings conference call. blockquote>

Don't panic though, and as our colleagues at Electrek rightly point out, this quarter constitutes the best third quarter in Tesla's history, improving previous records by 100,000 units.< /p>

Another reason for celebration for Elon Musk's firm is that its sales are booming in many markets, particularly in France. In France, the manufacturer is indeed doing very well and has already sold 27,548 copies of its Model Y. This places its SUV in 8th position among best sellers here.

This success is explained in particular by a policy of lower prices appreciated by consumers. This star vehicle of the company recently rose above 38,000 euros, which encouraged many customers to take action.

Tesla can also see life in rosy colors on its land. The Bloomberg agency reports that the company represents 61% of electric cars sold in the United States, which makes it even more dominant in this sector than Apple is in that of smartphones.

What to remember:

  • Tesla posts delivery and production figures below Wall Street analysts' expectations
  • This result can be explained by the fact that certain factories had to stop their production over the last three months
  • Overall, the manufacturer is having a very good year in 2023 with excellent sales figures

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Teilor Stone

By Teilor Stone

Teilor Stone has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining Thesaxon , Teilor Stone worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my teilor@nizhtimes.com 1-800-268-7116