Connect with us

Hi, what are you looking for?


Tesla just reported deliveries for its fiscal Q3

Tesla Inc (NASDAQ: TSLA) will likely open in the red on Monday considering the electric vehicles manufacturer, over the weekend, reported less than expected deliveries for its fiscal third quarter.

Tesla produced a lot more vehicles than Q2

The multinational delivered 343,000 vehicles this quarter, falling reasonably short of 364,660 that experts had forecast. Tesla produced 365,000 vehicles in Q3 – the majority of which (345,988) were Model 3 and Model Y.

Total production, it confirmed in the press release, was up 41% sequentially.

Among the headwinds in the fiscal third quarter were higher commodity prices, cash burn at the Texas and Berlin giga factories, and executive turnover. In July, the Nasdaq-listed firm also had put off most of its production at the Shanghai factory to upgrade the facility that resumed in August.

Earlier in September, Wolfe Research recommend buying Tesla stock and said it had upside to $360.

Numbers were up significantly from last year

Both deliveries and production, nonetheless, were up on a year-over-year basis. In the same quarter of 2021, it had delivered 254,695 vehicles and produced 237,823.

Around the start of its third quarter, Tesla lowered its headcount in the U.S. and mandated that its staff returns to office, which resulted in further dismissals and resignations in the subsequent months.

Earlier this month, though, executives said August was record monthly production at its Fremont factory and that the Austin facility had also hit the production rate of 1,000 cars per week.

Versus the start of 2022, shares of Tesla Inc are down nearly 35%.

The post Tesla just reported deliveries for its fiscal Q3 appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Solana (SOL/USD) is enormously underrated as a cryptocurrency project, even with its hiccups – including the latest exploit on one of the ecosystem apps....

    Editor's Pick

    The new eSIM infrastructure will help modernise the IoT connectivity market with fast, secure connections and reduced vendor lock-in. 1oT, a tech startup from...


    The latest Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics shows the total number of job openings in the economy...


    U.S. District Court Judge Reed O’Connor recently ruled to uphold the rights of employers granted in the Religious Freedom Restoration Act, rather than uphold...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023