Elon Musk’s American company started the year with more than 422,000 vehicles sold, an increase of 36%. But the brand is below expectations and continues to disappoint shareholders.
Should we see the glass as half empty or half full? On the one hand, the American company, a pioneer in the smart car market, delivered precisely 422,875 cars in the first quarter of 2023. An increase of 36% compared to 2022. However, Tesla has not managed to achieve its goals in the first quarter, says the American channel CNN.
Indeed, the company of Elon Musk reports a growth of only 4%. A figure lower than its annual objectives, set at 50% in the long term. As a result, its share price fell by 2% this morning, before the opening of the stock market.
The main problem encountered by Tesla is overproduction. The dealer produces more than it sells, even after a series of price cuts on its cheapest range.
Production exceeds demand
Unfortunately for the brand with the big T, the numbers speak for themselves. This is the fourth consecutive quarter that it has produced more than it has sold. A few days ago, Tesla said it had delivered 422,875 cars worldwide, compared to 430,000 expected. A difference of 78,000 vehicles, which is not negligible.
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Featured photo : © Tesla
