Tesla's Deliveries Update: Don't Overlook This Big Takeaway
's (NASDAQ: TSLA) third-quarter vehicle deliveries were a letdown, thanks to a sequential decline in production. Missing analysts' average estimate for deliveries of about 462,000, the electric-car maker said on Monday morning that it delivered only 435,059 vehicles. Not only was this number far below analysts' expectations, but it was well below Q2 deliveries; Tesla delivered a record 479,700 vehicles during Q2.
While this may be a disappointment for Tesla bulls, there was a silver lining in the report. Despite third-quarter production and deliveries both declining sequentially, the company still went out of its way to reiterate its full-year guidance to build a total of 1.8 million vehicles this year.
Before taking a closer look at Tesla's move to reiterate its full-year volume guidance, some concerns over the quarter's underwhelming production and deliveries can be dispelled. Investors were warned well in advance that there would be a sequential pullback in production.
Source Fool.com
Tesla Inc Stock
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