(CercleFinance.com) – Tesla announced on Sunday that it delivered some 422.00 vehicles during the first quarter, a figure that is broadly in line with analysts’ expectations.
The electric car manufacturer said it delivered 412,180 sedans and SUVs from its Model 3 and Y ranges in the first three months of the year, as well as 10,695 units from the Model S and X platforms.
If these figures are not surprising, investors seem to be concerned that the production of the Texan group, established at 440,000 units, continues to exceed its deliveries, which makes the title fall today on Wall Street.
‘This surplus production obviously revives the debate on the effectiveness of price reductions in terms of demand, but also on the effect of subsidies granted to buyers’, asks a trader.
“The big question now is whether the group will manage to achieve its objective of a gross margin of more than 20% in the first quarter of the year,” adds another analyst.
Answer on April 19, when Tesla will release its first quarter financial results and unveil its guidance.
Meanwhile, Tesla stock, which has gained more than 68% since the start of the year, was down around 4% Monday morning on Wall Street, less than half an hour after opening.
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