tesla shares dive as deliveries hit low end of forecast
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Tesla shares dive as deliveries hit low end of forecast

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Tesla shares dive as deliveries hit low end of forecast

Tesla shares careen sharply lower after the US electric-car maker reports
New York - AFP

Tesla shares careened sharply lower Monday after the US luxury electric-car maker reported deliveries at the bottom end of its forecast for the 2015 fourth quarter.

The tepid deliveries raised alarms on Wall Street about the production capacity of Tesla's California plant, which only has one factory building for its two models.

Tesla said it had delivered 17,400 vehicles in the October-December period, barely above its November prediction of 17,000-19,000 units.

For the full year, deliveries totaled 50,580 vehicles, also at the low end of its forecast of 50,000-52,000 cars.

Tesla shares tumbled 7.8 percent to $221.28 in morning trade.

In the fourth quarter, Tesla delivered 17,192 Model S vehicles, its premium sedan with a price tag of $70,000 and up, an increase of about 75 percent from the year-ago quarter.

Deliveries of Model X, its new crossover sport utility vehicle, totaled 208. The company said it had produced 507 Model X vehicles in the fourth quarter and the remainder would be delivered in the current first quarter.

The Model X, the company's third vehicle, which has a starting price of $80,000, was launched in September amid reportedly high demand.

"Model X deliveries are in line with the very early stages of our Model X production ramp as we prioritize quality above all else," Tesla said in a statement.

"That ramp has been increasing exponentially," it said, the production rate in the last week of the year hitting 238 units per week.

Trip Chowdhry at Global Equities Research hailed Tesla's Model X production ramp-up as "very impressive", and noted the company had a $4 billion backorder for the new SUV.

Tesla "fundamentals are strong," he said, forecasting a share price target of $385 over the next 12 to 18 months.

Safety questions about Tesla's lithium ion batteries flared anew last week after a fire destroyed a Tesla being recharged in Norway.

The cause of the fire remained unknown, according to local media reports. No one was hurt in the incident.

In 2013, the US National Highway Traffic Safety Administration opened an investigation into fires in the Tesla Model S that occurred when road debris struck the underbody of two of the vehicles.

The NHTSA closed the probe in March 2014 saying that Tesla had taken steps to increase underbody production.

 

6 13

GMT 00:59 2018 Friday ,19 January

BMW aims to reignite US car sales

GMT 09:01 2018 Thursday ,18 January

EU car sales top 15-mn barrier in 2017: data

GMT 17:32 2018 Tuesday ,16 January

Fiat Chrysler won't sell Jeep

GMT 06:56 2018 Tuesday ,16 January

Lamborghini races to new sales record

GMT 22:50 2018 Sunday ,14 January

Tesla faces fresh Norway lawsuit

GMT 22:46 2018 Sunday ,14 January

BMW drives to new sales record
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

tesla shares dive as deliveries hit low end of forecast tesla shares dive as deliveries hit low end of forecast

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

tesla shares dive as deliveries hit low end of forecast tesla shares dive as deliveries hit low end of forecast

 



GMT 09:54 2018 Wednesday ,24 January

'Friendly and kind' N. Korean skaters

GMT 09:36 2017 Thursday ,07 December

Heidy Karam’s contract to present talk show close

GMT 10:50 2012 Friday ,20 January

Dusty weather expected in UAE on Friday

GMT 09:35 2018 Saturday ,13 January

New Zealand bat first in third ODI against Pakistan

GMT 10:48 2017 Saturday ,23 December

Meryl Streep's brand under threat

GMT 06:53 2017 Thursday ,11 May

17th Doha Forum To Begin Sunday

GMT 10:30 2017 Thursday ,23 November

Reports underline proliferation of weapons in Arab world

GMT 07:46 2017 Monday ,30 October

Catch it early, treat it early and move on

GMT 08:05 2015 Tuesday ,17 February

Conan O'Brien is first late night host to film in Cuba

GMT 16:17 2018 Thursday ,30 August

Five Saudi women pilots granted GACA licences
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice