HomeAutomobileTesla achieves record Q1 deliveries, but once again disappoints investors

Tesla achieves record Q1 deliveries, but once again disappoints investors

Thanks to the price cuts, Tesla posted record quarterly deliveries, up 4% from the previous quarter. But analysts expected better.

Tesla announced on Sunday that it delivered more than 422,000 vehicles in the first quarter, below analysts’ expectations, despite price cuts by the US electric carmaker, which faces increasing competition. higher in a still uncertain economic environment, to stimulate demand.

Tesla’s deliveries were up 36% compared to the same period last year, but its chief executive, Elon Musk, had forecast a 52% growth rate at the start of the year.

2 million vehicles in 2023

Tesla delivered 422,875 vehicles in the first three months of the year, a record in company history, while analysts had expected an average of just over 430,000 vehicles, according to Refinitiv data.

The American manufacturer has manufactured just over 440,000 vehicles at the same time, increasing its production in new factories in Berlin and Texas, as well as in China where the sanitary restrictions linked to Covid-19 have been lifted.

Elon Musk said in January that Tesla deliveries in 2023 could reach 2 million vehicles, up from 1.3 million in 2022. After missing Wall Street expectations for its 2022 deliveries, Tesla cut prices. in January up to 20%, which triggered a price war in the electricity sector. vehicle market.

Author: PS with Reuters
Source: BFM TV

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