Tesla delivered fewer electric cars than expected in the third quarter. A total of 435,059 vehicles have been delivered to customers, the company announced on Monday. That was almost seven percent less than in the previous quarter.
Tesla justified this by pausing production to replace machines in factories. Experts had expected that around 20,000 more cars would be sold.
The company produced 430,488 cars, fewer than it delivered. In recent quarters, Tesla has produced significantly more than it has sold, which experts said was a reason for billionaire Elon Musk’s company’s significant price cuts.
SubscribeTesla is on its way to becoming a major manufacturer and plans to build another 1.8 million vehicles this year. That’s why Musk has boosted sales with discounts. In addition, there is fierce price competition in the important Chinese market. Tesla will report third-quarter financial results on October 18 after the US stock market closes.
(sda/awp/dpa)
Source: Watson
I’m Ella Sammie, author specializing in the Technology sector. I have been writing for 24 Instatnt News since 2020, and am passionate about staying up to date with the latest developments in this ever-changing industry.
