Despite the breaking of a company register for deliveries during the first quarter, shares of Tesla are lower on Monday, as production totals are still lower than forecasts by analysts and CEO Elon Musk.
|TSLA||TESLA INC.||194.11||-1:35 p.m.||-6.43%|
In January, Musk said the company’s internal production potential was close to two million vehicles in 2023, up from 1.3 million in 2022. The company hoped to increase deliveries by 50% in 2022 to 1.4 million while analysts wanted to see deliveries closer to 1.8 million.
You’re here delivered a record 422,875 electric cars to customers in the first quarter: 412,180 were Model 3s and Ys, while 10,695 were Models S and Xs. Totals got a 36% year-over-year increase on the other and an increase of 4% compared to the last quarter.
TESLA FURTHER DROPS PRICES OF MODEL S AND X UP TO $10,000
Tesla price reductions on models
In January, the electric vehicle manufacturer reduce the prices of the Model S and Model X up to $21,000 and in early March, Tesla cut prices again.
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Tesla sells its vehicles directly to consumers and frequently updates its list prices rather than using typical incentive or rebate programs. Prices vary depending on your location.
FOX Business reporter Gary Gastelu contributed to this story.