Today: November 23, 2024
October 2, 2024
1 min read

Tesla delivered fewer cars in the third quarter due to greater competition and slowdown in China

Tesla delivered fewer cars in the third quarter due to greater competition and slowdown in China

tesla reported this Wednesday that vehicle deliveries in the third quarter fell below estimates, after incentives and low-cost financing failed to raise demand for its older models in a highly competitive market.

Shares of the world’s most valuable automaker fell 2.5% in pre-market trading.

Increasing competition in the United States, a lack of subsidies in Europe and slowing consumption in China weighed on Tesla’s quarterly deliveries.

In July, BMW led the European electric vehicle market for the first time battery (BEV), surpassing Tesla, which has been losing market share to domestic companies, according to a report from JATO Dynamics.

Price cuts and incentives have also reduced the company’s profit margins.

Tesla electric delivered 462,890 vehicles in the three months to September 30, up 6.4% from the previous quarter. On average, Wall Street expected that the company run by Elon Musk will deliver 469,828 vehicles, according to 12 analysts surveyed by LSEG.

The company has to deliver 516,344 more vehicles in the fourth quarter to reach last year’s delivery figure of 1.81 million units.

Source link

Latest Posts

They celebrated "Buenos Aires Coffee Day" with a tour of historic bars - Télam
Cum at clita latine. Tation nominavi quo id. An est possit adipiscing, error tation qualisque vel te.

Categories

These are the most important news for October 1, 2024
Previous Story

These are the most important news for October 1, 2024

Diana Rosa Suárez
Next Story

Actress Diana Rosa Suárez, hospitalized in Guyana after suffering a heart attack

Latest from Blog

Venezuela rejects that the US promotes war

Venezuela rejects that the US promotes war

The Sectoral Vice President of Defense and Sovereignty, Vladimir Padrino López, stated this Friday that “in Venezuela we strongly reject all the escalation promoted by the United States in Eastern Europe and
Go toTop