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Share Under Pressure: Tesla Misses Delivery Targets Despite Sales Record

Austin, USA - US electric vehicle manufacturer Tesla has reported production and delivery figures for the first quarter of 2023 (Q1 2023).

In Q1 2023, Tesla produced a total of 440,808 vehicles and delivered 422,875 vehicles, each setting a new record. Compared to the previous quarter, Q4 2022, however, that's only a minimal 0.3 percent increase in production and about a 4 percent increase in deliveries.

Overall, market expectations were higher; according to media reports, analysts had assumed an average of around 432,000 cars delivered. In addition, Tesla achieved the new sales record through price discounts and many U.S. buyers benefited from tax credits on the purchase of Tesla vehicles.

As a result, analysts are expecting a decline in net income as they look ahead to the company's quarterly results due in April 2023, despite a significant increase in revenue. Tesla will release its first-quarter 2023 financial results on Wednesday, April 19.

Share under pressure: Tesla misses delivery targets despite sales record

Austin, USA - US electric vehicle manufacturer Tesla has reported production and sales figures for the first quarter of 2023 (Q1 2023).

In Q1 2023, Tesla produced a total of 440,808 vehicles and delivered 422,875 vehicles, each setting a new record. Compared to the previous quarter, Q4 2022, however, that's only a minimal 0.3 percent increase in production and about a 4 percent increase in sales.

Overall, market expectations were higher; according to media reports, analysts had assumed an average of around 432,000 cars delivered. In addition, Tesla achieved the new sales record through price discounts and many U.S. buyers benefited from tax credits on the purchase of Tesla vehicles.

As a result, analysts are expecting a decline in net income as they look ahead to the company's quarterly results due in April 2023, despite a significant increase in revenue. Tesla will release its first-quarter 2023 financial results on Wednesday, April 19.

Following the release of the quarterly results on Sunday, Tesla shares were under pressure on Monday and Tuesday of this trading week. Yesterday at the close of trading, the shares of the RENIXX Group were trading down 8.4 percent at a price of 174.66 euros (closing price, 04.04.2023, Stuttgart Stock Exchange). Compared with the price at the turn of the year, however, this is still a healthy 55.3 percent increase.



Source: IWR Online, 05 Apr 2023

 


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