Tesla’s deliveries fall to record low

San Francisco — Tesla reported a record decline in deliveries in the first quarter, falling short of analysts’ estimates and stoking fears that demand is slackening for the mainstream electric vehicle it introduced less than two years ago.

“It’s a disappointment. There’s no way around that,” said Gene Munster, a managing partner of venture capital firm Loup Ventures. “The big question is, what is demand?” Musk capped the quarter with a tweet referring to the work his delivery teams had done as the “most insane logistics challenge” he had ever seen. Tesla had a total of 10,600 vehicles in transit at the end of last month as the company started sales of the Model 3 in China and Europe. That is more than triple the number that were still making their way to customers at the end of 2018, though it is not unprecedented — more Tesla vehicles were in transit at September’s close.

The company had warned shareholders that first-quarter deliveries of the pricier Model S sedan and Model X sport utility vehicle probably would be lower than a year ago because customers rushed to buy in time for the full $7,500 incentive. “We’re past peak Tesla,” said David Kudla, CEO of Mainstay Capital Management, which bets against Tesla by shorting the stock. “There’s slowing demand for the Model 3 and there’s nothing else immediately in the pipeline.”

Source: News Formal (newsformal.com)

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ascendis shares fall to record lowLast week, Coast2Coast was forced to offload another R10.3m worth of Ascendis shares to meet obligations to lenders
Source: BDliveSA - 🏆 12. / 63 Read more »

SA yields fall to 10-month low after Moody reprieveDue to lack of change by agency country retains its position in Citigroup’s World Government Bond Index
Source: BDliveSA - 🏆 12. / 63 Read more »

N2 closed due to service delivery protest in Botrivier areaThe N2 between Botrivier and Sir Lowry's Pass in Gordon's Bay, Western Cape, has been closed in both directions due to protest action. kamva_somdyala Best place to protest service delivery is at the poles in May. SouthAfrica Election19
Source: News24 - 🏆 4. / 80 Read more »

WATCH | Angry residents 'shut down' Alexandra over lack of service deliveryResidents of Alexandra in Johannesburg shut down roads on Wednesday over what they say is poor service delivery and a lack of development in the area. for the past 25years what MYANC did in AlexTotalShutdown When will govt learn to listen to a soft, reasonable voice? Every year we burn down half the country and the following year we protest we have nothing.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Maimane blames ANC for poor service delivery in AlexandraResidents have been protesting over the lack of service delivery in the area since Wednesday morning. Imagine. Le ga a ka ya toilet kaka ya se tswe he will blame ANC . Isn't the DA governing Gauteng na? I thought the DA were governing CoJ?
Source: ewnupdates - 🏆 30. / 53 Read more »

IN PICTURES | Angry residents gatvol of 'service delivery' in AlexandraHere are five telling pictures from AlexTotalShutdown protests.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Service delivery campaigning old news, ANC needs to self-correct - analystRalph Mathekga says the ANC will need to show its serious on corruption, as this could go a long way in rebuilding trust among voters.
Source: ewnupdates - 🏆 30. / 53 Read more »

WATCH | Angry residents 'shut down' Alexandra over lack of service deliveryResidents of Alexandra in Johannesburg shut down roads on Wednesday over what they say is poor service delivery and a lack of development in the area.
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Gauteng still the epicentre of service delivery protests - Municipal IQIn 2017 alone, Gauteng accounted for more than a third of all reported service delivery protests nationwide. Interesting that your analyst says there is no connection. The data clearly shows an uptick. Common sense supports the view. Has anyone actually gone out and asked each protester 'why are you protesting now?' No. Because that would be daft. Fowzia_SSA
Source: ewnupdates - 🏆 30. / 53 Read more »

#Elections2019: Pigs live better than people, says Forum 4 Service Delivery | IOL NewsPigs are living better than people 25 years into democracy, the Forum 4 Service Delivery (F4SD) said.
Source: IOL - 🏆 46. / 51 Read more »