Tech
Tesla Motors, Elon Musk Update: Q2 Sales Lower Than Expected, Q1 Sales, Stocks Go Down Steadily
Michael Finn
First Posted: Jul 08, 2016 07:37 AM EDT
Tesla Motors Inc. has had rough weeks and it is bound to get even rougher. Elon Musk reported that shipping is the reason why the Tesla Motors was not able to reach the expected sales in the first two quarters of 2016. According to the report, 14,370 cars were delivered during for the second quarter of 2016, a figure below the expected 17,000 sales and lower than 14,820 cars sold during the first quarter.
Tesla Motors said that while they are finding all possible means to increase manufacturing, the company failed to ship 5,150 vehicles on schedule. On July 8, Sunday, vehicles are still on trucks due to the intense production ramps and customer demand.
The Tesla Motors sales was also low during the previous quarter and the main problem was pointed out as supply. According to reports, the company ran out of parts for the Model X and could not meet production requirements two months thereafter.
Meanwhile, Tesla Motors made a bid to buy SolarCity in a hope to transform Tesla motors into the world's first huge green energy. Tesla Motors' stocks resulted in a downward slope when the reports came out, Wall Street reported.
The Tesla Motors was also reportedly affected with the Autopilot feature investigation following an automobile accident. In 2014, Model S had also been involved in an accident, leaving one man dead while driving a stolen unit. It crashed into a pole and placed Tesla in hot waters regarding the safety of their automobiles.
Tesla Motors sales continue to be a critical factor for the company. Tesla needs to successfully prove that they are the company that they are already claiming to be, which is a maker and a seller of new generation vehicles, Huffington Post reported.
Tesla Motors once made history by selling over half a million pre-ordered Model 3 cars, its newer and cheaper vehicle.
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First Posted: Jul 08, 2016 07:37 AM EDT
Tesla Motors Inc. has had rough weeks and it is bound to get even rougher. Elon Musk reported that shipping is the reason why the Tesla Motors was not able to reach the expected sales in the first two quarters of 2016. According to the report, 14,370 cars were delivered during for the second quarter of 2016, a figure below the expected 17,000 sales and lower than 14,820 cars sold during the first quarter.
Tesla Motors said that while they are finding all possible means to increase manufacturing, the company failed to ship 5,150 vehicles on schedule. On July 8, Sunday, vehicles are still on trucks due to the intense production ramps and customer demand.
The Tesla Motors sales was also low during the previous quarter and the main problem was pointed out as supply. According to reports, the company ran out of parts for the Model X and could not meet production requirements two months thereafter.
Meanwhile, Tesla Motors made a bid to buy SolarCity in a hope to transform Tesla motors into the world's first huge green energy. Tesla Motors' stocks resulted in a downward slope when the reports came out, Wall Street reported.
The Tesla Motors was also reportedly affected with the Autopilot feature investigation following an automobile accident. In 2014, Model S had also been involved in an accident, leaving one man dead while driving a stolen unit. It crashed into a pole and placed Tesla in hot waters regarding the safety of their automobiles.
Tesla Motors sales continue to be a critical factor for the company. Tesla needs to successfully prove that they are the company that they are already claiming to be, which is a maker and a seller of new generation vehicles, Huffington Post reported.
Tesla Motors once made history by selling over half a million pre-ordered Model 3 cars, its newer and cheaper vehicle.
See Now: NASA's Juno Spacecraft's Rendezvous With Jupiter's Mammoth Cyclone