Hyperdrive
Tesla Sets Deliveries Record While Falling Short of Elon Musk’s Mark
- Carmaker hands over 97,000 cars; CEO hinted 100,000 was doable
- Revenue may drop as Model 3 gains at the expense of S and X
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The good and the bad Elon Musk were on full display Wednesday, when Tesla Inc. released its much-awaited third-quarter delivery figures.
The good: Musk’s relentless drive to ramp up output helped push deliveries to a record 97,000 units. The bad: Because he had recently hyped the idea -- in typical Musk-ian fashion -- of reaching 100,000, investors came away disappointed with the final number. Tesla shares sank rather than rallying immediately after the release.