Tesla missed market estimates for third-quarter deliveries on Monday as planned upgrades at its factories forced production halts, sending its shares down 2.4% in early trading.

Tesla missed market estimates for third-quarter deliveries on Monday as planned upgrades at its factories forced production halts, sending its shares down 2.4% in early trading.

The electric-vehicle maker handed over 435,059 vehicles in the three months to Sept. 30, down nearly 7% from the preceding quarter, but said its target to deliver 1.8 million vehicles this year remained unchanged.

An LSEG poll of eight analysts estimated deliveries of 459,949 vehicles, with the lowest at 442,000 and the highest at 511,405.

The electric vehicle market has seen a slowdown in the United States, although there are signs of growth, Canalys Research said in its report.

“While Tesla remains a dominant force in the US EV market for 2023, there is an increasing demand for a wider range of EV options to satisfy the growing consumer interest in electric vehicles,” said Ashwin Amberkar, analyst at the market research firm.

The world’s most valuable automaker produced 430,488 vehicles in the third quarter, compared with 479,700 in the second quarter and 365,923 a year earlier.

  • BombOmOm@lemmy.worldEnglish
    132·
    9 months ago

    According to the article, they produced 17.6% more cars than the same quarter last year. This is FAR from bad news for Tesla. (Edit: Fixed the math)

  • Shanie@mastodon.tails.ch
    122·
    9 months ago

    If people are watching what is going on within Tesla right now, they are releasing a majorly redesigned Model 3, both interior and exterior, which is now getting the attention of potential buyers. Slows down manufacturing with the retooling.

    Bad call as far as numbers/estimates goes, but hopefully this will improve the “cheap car feel” meme that the Model 3 currently has.

  • fosforus@sopuli.xyz
    1030·
    9 months ago

    I’m not a fan of Musk’s shenanigans, but Teslas are damned fine cars. I’m not yet seeing any indications that the traditional car makers are really catching up.

    • BerryB1ue@lemmy.dbzer0.com
      305·
      9 months ago

      You are joking, surely? Their QA is terrible. Numerous documented cases of steering wheels coming off, loose trimmings inside the car or them just catching fire. Buying a tesla in 2023 is falling for marketing hype, especially considering all the alternatives from other manufacturers.

    • dustyData@lemmy.worldEnglish
      113·
      9 months ago

      Any Chinese EV kicks the Teslas in build quality. And the Swedish Polestars are luxury EVs on the same price bracket. Tesla is trash.

      • fosforus@sopuli.xyz
        29·
        9 months ago

        Any Chinese EV kicks the Teslas in build quality.

        Thanks for the laugh :)

        Polestars are ok, though, but they haven’t quite caught up with Teslas yet. The new Hyundais are actually better than Polestars, why didn’t you bring them up?

        • dustyData@lemmy.worldEnglish
          101·
          9 months ago

          Well, Polestars are made in China. Just because their brands aren’t massive with marketing in the US doesn’t mean they aren’t good. BYD is by sheer numbers the largest producer of electric vehicles in the world. And they’re regarded as quality and durable vehicles that most reviewers think will take the European market by storm soon since they just installed themselves there. The Seal is considered superior to the Tesla 3 and it’s cheaper. Tesla actually pays to them to use their batteries in Asia. And they provide the platform for Toyota. Again, just because you don’t know about it doesn’t mean it’s not true. Read the room, there’s a reason you’re being downvoted. And it’s not Tesla or Elon hate, you just don’t know enough about the EV market and said something false.

        • GlitzyArmrest@lemmy.worldEnglish
          61·
          9 months ago

          Polestars far surpass Tesla especially in terms of build quality. That has nothing to do with China, and everything to do with Tesla cutting corners.

    • Lemmylaugh@lemmy.mlEnglish
      83·
      9 months ago

      model x and s are but the 3 and y are just cheap boxes with a rectangular screen

      • SatanicNotMessianic@lemmy.ml
        91·
        9 months ago

        The X and S are also crap quality when compared to luxury cars in their price range. The build quality on a $80k+ Audi, BMW, or Mercedes is much higher than what you’ll get in a Tesla, and they don’t have those goofball gull wing doors that Elon insisted on and that are trash.

        I was never a fan of Elon, but what turned me off from Tesla five years ago was build quality issues, not the fact that he’s a horrible person. That, and the more I learned about the company and its engineering and manufacturing, the less I trusted what they were shipping. You can learn a lot just talking to people in bars in Silicon Valley.

      • fosforus@sopuli.xyz
        64·
        9 months ago

        Cannot say that I’ve noticed any cheapness in the model Y I got. But perhaps I’m used to lower standards for my cars than everyone else.

        • DoomBot5@lemmy.worldEnglish
          62·
          9 months ago

          It’s got the build quality of a base model Corolla, assuming all the panels are properly attached.

          • fuckwit_mcbumcrumble@lemmy.worldEnglish
            61·
            9 months ago

            Eh, it’s more like a Corolla with leather. Cheap hard as rocks seats, but hey they’re “leather” so it’s all alright.

            My Subaru for half the price feels nicer than a Model 3.