Tesla's quarterly vehicle deliveries have declined by 9% compared to the previous year, falling short of analysts' forecasts. This is the first decline in customer deliveries for Tesla since the pandemic began in 2020. Production has also dropped for the first time. Despite anticipating significant growth in auto sales, Tesla has faced challenges in displacing combustion-engines.
Tesla Model 3 vehicles are shown for sale at a Tesla facility in Long Beach, California, U.S., May 22, 2023. REUTERS/Mike Blakewas supposed to become the market. The Cybertruck maker as recently as 2022 anticipated 50% annual growth in auto sales until reaching 20 million, twice as many as world-leader Toyota Motor, but that’s small consolation after a 9% decline in quarterly vehicle deliveries from a year earlier. At nearly 387,000, they also fell 15% short of what analysts had forecast.
There’s no silver lining either. The decline in customer deliveries is the first for Tesla since the pandemic struck in early 2020. Production also dropped for the first time since then. Constrained factories aren’t the problem: Tesla churned out roughly 12% more cars than it sold, the widest gap – again – in four years.Some of this disappointment was inevitable. Displacing combustion-engines has been a tortuous task. U.S
Tesla Vehicle Deliveries Decline Pandemic Production Auto Sales Combustion-Engines
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