Tesla plunges on the stock market, fears over sales of electric cars

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Tesla plunges on the stock market fears over sales of - Tesla plunges on the stock market, fears over sales of electric cars
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Tesla sold more cars than expected in the past quarter. The electric car giant founded by Elon Musk delivered 139,300 vehicles over the period (+ 43%), against a FactSet consensus (average analyst forecast) of 137,000 units. At the same time, Tesla produced 145,036 vehicles. As usual, Tesla warns that the number of deliveries should be considered "slightly conservative" and that it could be raised "up to 0.5% or more" thereafter. Tesla shares nevertheless lost 5% around 3 p.m., in view of uncertain delivery prospects over the coming months.

The group, which has suffered like other automakers from the effects of the pandemic on the operation of its factories in the spring and on sales, has delivered 318,350 cars since the start of the year. Elon musk had initially set as a target the delivery of 500,000 vehicles in 2020. He specified at the recent annual general meeting of the group that deliveries should be increased by 30% to 40% compared to last year, ie between 477,7500 and 514,500 vehicles, AFP reports.

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To get to the low end of the forecast, Tesla would need to deliver 159,400 vehicles in the fourth quarter. Despite the difficulties caused by the pandemic, You're here had, to the market's surprise, made money for the fourth quarter in a row between March and June.

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