“Third quarter volume figures are probably not good enough to attract new equity buyers, especially as global financial markets are volatile and crippled by the twin challenges of inflation and rising interest rates,” said AJ Bell analyst Russ Mold.
Also, an unusual gap of more than 22,000 units between production and deliveries spooked investors, despite CEO Elon Musk promising “steadier deliveries” in the current quarter to reduce the last-minute rush.
Tesla, which sees deliveries pick up towards the end of each quarter, said more of its new vehicles were in transit at the end of the third quarter.
“Although Tesla continues to point out that supply constraints limit deliveries, the potential for demand destruction looms over it”said JP Morgan analyst Ryan Brinkman, citing rising prices, rising borrowing costs and a likely slowdown in economic activity.
musk, the richest person in the world, has set itself the goal of increasing deliveries by 50% per year, which implies that Tesla would have to deliver more than 450,000 vehicles in the fourth quarter to meet its goal.
Reuters reported exclusively on Friday that the electric vehicle maker has set itself the ambitious goal of producing nearly 495,000 Model Ys and Model 3s in the fourth quarter.
Secondly, Musk recently unveiled his “Optimus” humanoid prototype, predicting that the company will make millions and sell them for less than $20,000.
Source: Ambito
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