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7mo ago

Tesla's Quarterly Deliveries Rise, But Fall Short of Expectations

The automaker's vehicle sales increased for the first time this year, yet failed to meet investor expectations, leading to a drop in stock value.

Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. REUTERS/Aly Song/File Photo
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Engines assembled as they make their way through the assembly line at the General Motors (GM) manufacturing plant in Spring Hill, Tennessee, U.S. August 22, 2019. REUTERS/Harrison McClary/File Photo

Overview

  • Tesla delivered 462,890 vehicles in the third quarter, marking a 6.4% increase from the previous year.
  • Despite the rise in sales, the figures fell short of the expected 463,900 units, disappointing investors.
  • Tesla shares fell nearly 5% as investors anticipated higher gains from increased Chinese subsidies for electric vehicles.
  • Aggressive pricing strategies, including low-interest financing and discounted leases, contributed to the sales increase.
  • Tesla's energy business saw a decline, with a drop in energy storage deployments from the previous quarter.