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Home›Business›Tesla Stock Slipped By 10% After Missing Anticipated Delivery Figures

Tesla Stock Slipped By 10% After Missing Anticipated Delivery Figures

By Ramon Lindquist
January 9, 2019
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Tesla Stock Slipped By 10% After Missing Anticipated Delivery Figures

Recently, Tesla revealed its vehicle delivery figures for the fourth quarter of the Year 2018 by announcing that the company has delivered 90,700 vehicles, seems to be lower than the Wall Street expectations.

Despite the company’s efforts in escalating production in the fourth quarter reaching 86,500 vehicles manufacturing from 80,142 vehicles produced during the third quarter, the investors felt disappointed on lower than expected vehicle deliveries.

Tesla’s share tumbled by around 10.2% during Wednesday morning trading period. However, by afternoon the share value recovered to some extent reaching around $313.

On Tuesday, Tesla also announced the fact behind cutting price worth $2,000 on all its models that it would lead to the deduction of federal tax credits for the company worth $7,500 to half.

Dan Ives—analyst of Wedbush Securities—told CNBC that even though the expected deliveries as per the FactSet survey was 2,000 more than the actual vehicle delivered, but the company was trying to perform as per the forecast. He added that the fall in stock value was majorly associated with price cut by Tesla.

Ives said that Tesla’s decision of price cut was based on smoothing the impact of tax credit drop, while the investors expected the company’s decision to arouse vehicle demands.

According to third quarter vehicle delivery figures, Tesla delivered 8% more vehicles during the fourth quarter and reached record-breaking maximum delivery for a single quarter. The company revealed that out of 90,700 vehicle deliveries, it has delivered 13,500 Model S sedans, 14,050 Model X SUVs, and 63,150 Model 3s. However, the anticipated total deliveries by Wall Street for the fourth quarter were 92,000, comprising 14,200 Model S deliveries, 13,600 Model X deliveries, and 64,900 Model 3 deliveries.

As per the tracking by Tesla based on the forecast of 22 analysts, average anticipated deliveries calculated were 91,046, which is close to the actual vehicles’ deliveries.

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Ramon Lindquist

Ramon is very familiar with financial and commercial conditions and concepts and can communicate them in simple, clear and understandable language. It focuses mainly on current affairs (usually politics). It also presents its position on different platforms. He also practices yoga and enjoys transmitting its benefits.

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