2024-04-10 17:53:09
The electric vehicle manufacturer Tesla It delivered fewer units in the first quarter of 2024 than in the same period of the previous year, a volume that was also below what the market expected.
The announcement caused the company’s stock to fall by Wall Street, 4.97% at the close of the day. Tesla delivered 386,810 vehicles, compared to 457,000 expected by analysts.
Its production also decreased, 8.5%, to 433,371 units in the period considered. “The drop in volumes is due in part to the initial production phases of the new version of the Model 3 in our plant Femont”, in California, the company explained in a statement.
It is also explained by delivery problems linked to the conflict in the Red Sea, with missile fire by the Houthi rebels towards ships that use that route. There is sabotage in a factory Tesla in Germanywhere a small far-left group claimed responsibility for the fire that stopped production for several days at these facilities located near Berlin. It is the group’s only plant in Europe.
The group does not mention China, where it faces strong competition from local manufacturers, in particular BYD, which stole the title of the world’s largest seller of electric vehicles in the fourth quarter of last year.
“Disastrous first quarter,” Wedbush analysts titled their note on the announcement of Tesla, news that “negatively impacted” the market.
Among the values of the day, the electric car manufacturer Tesla of the tycoon Elon Musk was on the list of losers with a drop of 4.97%, after publishing sales figures significantly lower than expected for the first quarter, a Wall Street report highlighted.
Tesla belongs to technology magnate Elon Musk, who among his portfolio includes the red social X (formerly Twitter) and the space signature Space X that has launched space exploration rockets.
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2024-04-10 17:53:09