Tesla shares reverse as latest delivery numbers disappoint
Tesla Inc. (NASDAQ:TSLA) saw its shares reverse in after-hours trade on Wednesday after the electric vehicles maker saw its latest delivery numbers disappoint the market.
In a statement released after the New York close, Tesla said it delivered about 97,000 vehicles in the third quarter, including 79,600 Model 3 sedans, below the analyst consensus forecast for about 99,000 vehicles, including 80,200 Model 3s.
The company delivered 84,000 vehicles in the third quarter of 2018, including about 56,000 Model 3s.
READ: Rivian catapults to Tesla’s line of sight after massive electric vehicle order from Amazon
Tesla said it achieved “record” net orders in the third quarter, and added that it is seeing an increase in its order backlog in the current quarter.
“We are continuing to focus on increasing production to meet that demand,” it added.
Tesla reports delivery and production numbers quarterly, but does not break the numbers down by region or other factors.
In after-hours New York trade, the Silicon Valley-based company’s shares were 4.2% lower at $232.84.
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Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/904041/tesla-shares-reverse-as-latest-delivery-numbers-disappoint-904041.html
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