Tesla results could be an indication of troubling times ahead
Tesla results are are out, with the EV maker releasing its vehicle production and delivery numbers for quarter three.
The EV company announced lower-than-expected electric vehicle deliveries, with the company placing the blame on logistical challenges.
Tesla said “it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost.” But analysts also have concerns about the demand for high-ticket items at a time when the global economy is weakening.
In quarter three, Tesla managed to deliver 343,830 electric vehicles. This is a record for the automaker, but falls short of the 359,162 estimate.
Meanwhile, total production reached 365,923 vehicles. A number greater than vehicles actually delivered to customers.
On Sunday, Tesla CEO Elon Musk said “smoothing out crazy end of quarter delivery wave to reduce expedite costs & relieve stress on Tesla team.”
It comes as Musk unveiled a prototype of the humanoid robot ‘Optimus.’ Musk predicts his company will be able to produce millions and sell them for under $20,000 USD.
Reviews of the new prototype were largely positive, but many agree with Musk who said “there’s still a lot of work to be done to refine Optimus and prove it.”
