Tesla misses delivery estimates as price cuts fail to lure buyers

The carmaker produced more cars than it delivered, manufacturing 440,808 vehicles for the first three months of this year. Tesla delivered 6% more of its mainstay Model 3/Model Y vehicles than the ...

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Tesla Misses Delivery Estimates As Price Cuts Fail To Lure Buyers

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Tesla (NASDAQ:TSLA) Misses Q3 Delivery Estimates Despite Price …

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Oct 2, 2024 · The lower-than-expected Q3 vehicle deliveries led to TSLA shares falling by 4.3% in trading at the time of writing on Wednesday.Tesla’s Price Cuts Don’t Seem to Be WorkingThe …

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Why did Tesla Miss estimates for first-quarter deliveries?

(Reuters) - Tesla Inc on Sunday missed estimates for first-quarter deliveries as a bleak economic outlook and rising competition outweighed the electric automaker's efforts to prop up demand with price cuts. Tesla delivered 422,875 vehicles compared with analyst expectations for 430,008 vehicles, according to Refinitiv data. ...

Why did Tesla cut prices in January?

In January, Tesla slashed prices globally by as much as 20%, unleashing a price war after missing Wall Street delivery estimates for 2022. Musk warned the prospect of recession and higher interest rates meant the carmaker could lower prices to sustain growth at the expense of profit. In January, Musk said the price cuts had stoked demand. ...

Why did Tesla drop its annual deliveries?

Tesla reported its first decline in annual deliveries on Thursday, as the automaker handed over fewer-than-expected electric vehicles in the fourth quarter and incentives failed to boost demand for its aging lineup of models. ...

Why did Tesla stock drop 6% in third-quarter deliveries?

Oct 2 (Reuters) - Tesla (TSLA.O) reported a smaller-than-expected rise in third-quarter deliveries on Wednesday as incentives and financing deals failed to lure enough customers for its aging electric vehicles, sending shares down more than 6%. ...

Can Tesla prevent a drop in 2024 sales?

Tesla now needs a record-breaking 516,344 vehicle deliveries in the fourth quarter to prevent a drop in 2024 sales. "There's only so much Tesla can do with price cuts and incentives while offering no fresh vehicles for customers," Rao said, adding that rivals, especially in China, have been launching a range of new models. ...

Why did Tesla stock fall 4%?

Lower prices and incentives pinched Tesla's profit margin on vehicle sales last year. Wall Street, however, expects demand to pick up in 2025 as the U.S. Federal Reserve cuts interest rates. Shares of the company fell about 4% Thursday, indicating investor worries over the challenges facing CEO Elon Musk. ...