Tesla: quarterly production meets guidance, but shares stall

(CercleFinance.com) - Tesla said on Tuesday that it produced 53,239 Model 3 vehicles over the third quarter of 2018, which was in line with its guidance.


The Palo Alto, California-based company said it almost doubled volumes compared to the second quarter, despite a transition that changed production from entirely rear wheel drive to almost entirely dual motor.

Demand for Model S and X remains high, the electric car maker added, saying that it manufactured 26,903 Model S and X vehicles, which is also in line with guidance.

In the third quarter, the company produced a total of 80,142 vehicles, up 50% compared to the previous all-time high of the second quarter.

An interesting fact is that third-quarter deliveries totaled 83,500 vehicles, which is over 80% of the vehicles that the group delivered over the whole of 2017.

Despite these good numbers, the stock of Tesla was down 1% today in New York, a victim of profit taking, after the share soared 17% the day before.

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