In spite of its record deliveries, Tesla Inc. on Sunday reported lower-than-anticipated sales of electric vehicles in the third quarter due to logistical issues.
The leading manufacturer of electric vehicles acknowledged that ‘securing vehicle transportation capacity and at a reasonable cost is becoming increasingly difficult,’ but other analysts were also concerned about demand for expensive goods because of the faltering global economy.
‘The main negative effects of the marginal economy on Tesla’s business are logistical. However, I believe there are some demand related difficulties thrown in there’ after the delivery numbers, Wedbush Securities analyst Dan Ives spoke with Reuters.
‘There is a dark cloud over the auto sector. And Tesla is not immune.’
Ford Motor said last month inflation-related costs would be $1 billion more than expected in the third quarter and that parts shortages had delayed deliveries.
After an anticipated rise in demand did not occur, Apple Inc. is abandoning plans to raise manufacturing of its new iPhones this year, Bloomberg reported last month, citing individuals familiar with the situation.
Ed Moya, senior market analyst at OANDA, said: ‘I think that EVs are in for perhaps a little bit of a hard spell, mainly because consumers are probably going to be a little bit cautious and less urgent to buy something new.’
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