Tesla Reports Below Forecast
Tesla (TSLA US) announced that it produced 18,000 vehicles in the second quarter of 2016 and delivered 14,400 vehicles to customers. This is below their forecasts of producing 20,000 and delivering 17,000 vehicles.
The “Production ramp up did not occur until later in the second quarter of 2016, which impacted production levels” notes Kevin Hua co-founder of AtlasTrend.
“Despite the interest in electric vehicles, this continues to highlight the risk of a new player being able to sufficiently scale up its production facilities in a timely manner to meet demand” continues Hua.
Looking at the growth from last year “The company only delivered about 50,000 vehicles in 2015 and although production is likely to end up at 80,000 vehicles for 2016, it is well short of the stated target of producing and selling 500,000 electric cars by 2018”.
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Christopher is head of equites at Spring Financial Group. Christopher has over 10 years' experience managing equities desks with thousands of retail clients and responsibility for maintaining and servicing retail and wholesale relationships.