Tesla’s shares fell as the company ended up making almost 18,000 more elective vehicles than it sold, casting doubt on the demand outlook.
Tesla increased vehicle deliveries by a slim margin despite slashing prices across its lineup, casting doubt on the staying power of the increase in demand that chief executive Elon Musk described early this year.
The latest figures show there was a slowdown as the quarter came to a close after company made almost 18,000 more cars than it sold. “Tesla deliveries were in line with the consensus numbers, but it was a disappointment relative to some of the whisper numbers,” said Gene Munster, managing partner of investment firm Deepwater Asset Management. “They will have to pick up the pace for deliveries for the rest of the year.”
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