{"id":64449,"date":"2022-10-19T20:57:02","date_gmt":"2022-10-19T20:57:02","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/10\/19\/tesla-sales-climb-but-miss-expectations\/"},"modified":"2022-10-19T20:57:02","modified_gmt":"2022-10-19T20:57:02","slug":"tesla-sales-climb-but-miss-expectations","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/10\/19\/tesla-sales-climb-but-miss-expectations\/","title":{"rendered":"Tesla sales climb but miss expectations"},"content":{"rendered":"
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Supply shortages, logistics bottlenecks and rising costs are hitting Tesla as it rapidly ramps up production of its electric cars.<\/b><\/p>\n<\/div>\n

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Though the issues have improved in recent months, they remain immediate challenges, Tesla said in a financial update for investors.<\/p>\n<\/div>\n

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Sales were lower than expected in the three months to September as auto sales fell short of expectations.<\/p>\n<\/div>\n

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But at $21.5 billion, it remained up more than 50% from a year ago. <\/p>\n<\/div>\n

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Tesla, led by billionaire Elon Musk, has grown aggressively in recent years, opening new factories in the US, China and Germany and ramping up production. <\/p>\n<\/div>\n

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The company delivered 343,000 cars in the quarter — a record that’s up more than 40% from the prior-year period. <\/p>\n<\/div>\n

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The company produced more cars than it sold, raising concerns that demand could slow as rising prices, higher borrowing costs and a severe economic slowdown in key China market deter buyers.<\/p>\n<\/div>\n

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Mr Musk has previously hit back at cooling proposals. When Tesla shared delivery numbers earlier this month, the company suggested the gap was due to difficulties finding vehicles to ship cars to customers. <\/p>\n<\/div>\n

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Deliveries of its highly anticipated electric truck are set to begin in December, the company said. <\/p>\n<\/div>\n

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But questions about Tesla’s growth path and billions of dollars in stock sales by Mr Musk as he prepares a $44 billion takeover of Twitter have weighed on the company’s shares in recent months.<\/p>\n<\/div>\n

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Share prices have fallen 40% this year, taking billions of dollars off the company’s value. <\/p>\n<\/div>\n

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Tesla dominates the electric vehicle market in the US, but faces far stiffer competition in Europe and China, where such cars are more popular.<\/p>\n<\/div>\n

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Competitors are also stepping up their efforts in the US. <\/p>\n<\/div>\n

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German automaker BMW said Wednesday it will spend $1.7 billion to expand its electric vehicle production in the US. <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Supply shortages, logistics bottlenecks and rising costs are hitting Tesla as it rapidly ramps up production of its electric cars. Though the issues have improved in recent months, they remain immediate challenges, Tesla said in a financial update for investors. 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