Tesla's stock dropped 6% on Thursday after the electric car maker's qu...
) stock dropped 6% on Thursday after the electric car maker’s quarterly deliveries underwhelmed investors already concerned about slowing revenue growth and ongoing losses.
Tesla has set a target to deliver 360,000 to 400,000 vehicles in 2019, which means it must deliver almost 105,000 vehicles in its final quarter to meet the low end of its full-year forecast. The Model 3 sedan was meant to propel Tesla to sustainable profitability, but that has yet to happen during the car’s two years on the market. While production problems initially hampered sales, some investors now worry about soft demand for the vehicle, as well as waning sales of its higher-end vehicles that are more profitable for Tesla.
Underscoring investors’ doubts about Tesla’s progress with autonomous-driving technology, a U.S. regulator said on Wednesday it was looking into parking lot crashes involving Tesla cars driving themselves to their owners using a recently launched Smart Summon feature.
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