Hyperdrive
Tesla Drops as Musk Says Demand ‘A Little Harder’ to Come By
- EV maker’s third-quarter revenue came up short of estimates
- Company expects to come up just short of 50% deliveries growth
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Tesla Inc. shares declined in early trading after the electric-car maker reported lower-than-expected revenue and acknowledged it isn’t immune from economic headwinds.
Third-quarter sales rose 56% to $21.5 billion, short of analysts’ average estimate of $22.1 billion. The maker of Model 3 sedans and Model Y SUVs said it expects to come up short of its target for 50% growth in vehicle deliveries, in part because of trouble it’s having getting cars from plants to customers.