Tesla deliveries are falling as the electric car maker upgrades its factories
Tesla delivered fewer cars than expected in the third quarter of the year.
The electric vehicle maker delivered 435,059 cars in the three months to the end of September – almost 7 percent less than in the previous quarter.
It was the first drop in deliveries in more than a year and came as Tesla closed factories to upgrade them to make new models.
However, the company said its target of delivering 1.8 million vehicles this year remains the same. On average, Wall Street analysts expected Tesla to deliver 454,100 vehicles.
Slowdown: Tesla (led by Elon Musk, pictured) transferred 435,059 cars in the three months to the end of September – almost 7% less than in the previous quarter
Some analysts believe factory upgrades could trigger a rebound in deliveries in the fourth quarter.
Tesla has cut the price of many of its cars – especially in the US and China – in an effort to boost sales.
A Tesla spokesperson said yesterday: ‘A successive decline in volumes was driven by planned downtimes for factory upgrades.
“Our 2023 volume target of approximately 1.8 million vehicles remains unchanged.”