Tesla recently announced that its vehicle deliveries were not meeting analysts’ forecasts, due to disruptions at its production site.
Tesla announced Sunday that it delivered only 343,830 vehicles in the third quarter due to problems at its Shanghai production site. That’s less than analysts were expecting on average, at 359,162 deliveries, according to data from Refinitiv.
Tesla CEO Elon Musk said the electric carmaker was still benefiting from strong customer demand but that the problem was with the manufacturing and shipping of its Model Y and Model 3.
Analysts see these as early signs of caution from the automaker as the global economy slows and global car sales forecasts are revised downward.
Adam Jonas, an analyst at Morgan Stanley, says that while Tesla doesn’t face an immediate demand problem, it should be careful about its pricing and its ability to deflect the business cycle. “It would be unreasonable to assume that there is no limit to the prices Tesla can continue to raise without demand suffering and that the company is not exposed to decelerating macroeconomic growth,” he said in a research note.
Tesla has met supply chain challenges better than most of its rivals this year. So analysts expected it to post strong growth next year by ramping up production. But there are signs that it will have to adjust to a tougher market. Fitch Solutions, which provides country risk and industry research, said Tuesday that it expects global auto sales to fall 5.4% in 2022 before rebounding (partially) in 2023.
Sam Abuelsamid, an analyst at Guidehouse Insights comments “Tesla could end up in financial trouble in the third and fourth quarters (2023), if its factories continue to be underutilized.”
Featured photo : © Tesla
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Passionnée depuis son plus jeune âge par l’art et la mode, Hélène s’oriente vers une école de stylisme, l’Atelier Chardon-Savard à Paris, avec une option Communication. Afin d’ajouter des cordes à son arc, elle décide de compléter sa formation par un MBA en Management du Luxe et Marketing Expérientiel à l’Institut Supérieur de Gestion à Paris dont elle sort diplômée en 2020. Elle a notamment écrit des articles lifestyle et beauté pour le magazine Do it in Paris et se spécialise en rédaction d’articles concernant le luxe, l’art et la mode au sein du magazine Luxus Plus.********** [EN] Passionate about art and fashion from a young age, Hélène went to a fashion design school, Atelier Chardon-Savard in Paris, with a Communication option. In order to add more strings to her bow, she decided to complete her education with an MBA in Luxury Management and Experiential Marketing at the Institut Supérieur de Gestion in Paris from which she graduated in 2020. She has written lifestyle and beauty articles for Do it in Paris magazine and specializes in writing articles about luxury, art and fashion for Luxus Plus magazine.