Tesla declared its delivery and production numbers for the third quarter Sunday, detailing 343,000 total deliveries and 365,000 vehicles constructed, falling below examiners' forecasts.
The world's most important automaker said it created 19,935 and delivered 18,672 Model S and X vehicles. It created 345,988 Model 3 and Y vehicles and delivered 325,158.
The lower than expected numbers came about because of production stoppages to update its factory in Shanghai. Refinitiv experts anticipated that Tesla should deliver 359,162 vehicles.
“While Tesla had delivery challenges in the quarter, this is clearly a soft number that the Street will fret about it,” Daniel Ives, managing director and senior equity analyst at Wedbush Securities said. “Given the macro environment, a disappointing delivery number from Tesla will be a near term step back for the bull story with a lot riding on 4Q deliveries.”
The report shows an expansion in production from a similar period last year when Tesla made 237,823 vehicles and an increase from the past quarter when the EV creator fabricated 258,580 vehicles. The Tesla Model S and X vehicles are more expensive at more than $100,000.
In July sales of Teslas worked in China plunged 64% from the month earlier because of an ambitious upgrade of the organization's Shanghai factory. The closure underway came as the organization started recuperating from a months-long Coronavirus lockdown in the city that had upset production and supplies.
In August, vehicle wholesale volume of Tesla's China-made vehicles surged over 172% from the month earlier.
Tesla said in its report that toward the end of quarter, it had become "increasingly challenging" to get vehicle transportation capacity at a reasonable expense.
Tesla will post its financial results for the second from last quarter on October 19.