PALO ALTO, Calif., based Electric car manufacturer Tesla reported its production and delivery of their electric cars, Model S, Model 3 and Model X, on April 03, 2019 for Q1 2019.
In Q1 2019, the company produced approximately 77,100 vehicles in total, consisting of 62,950 Model 3 and 14,150 Model S and Model X cars. There is around 42.78% decline in production of model S and X year over year(YoY) for Q1 and 43.76% decline quarter over quarter(QoQ).
In Q1 2019, the company delivered approximately 63,000 vehicles in total, which includes about 50,900 model 3 and 12,100 Model S and X.
Delivery number of model 3 indicates there is around 544.58% YoY growth and approximately 2.53% QoQ growth in delivery.
In total company delivered a total of approximately 63,000 vehicles which was 110% more than the same quarter last year but 31% less than the previous quarter.Because of the lower than expected delivery volumes and several pricing adjustments, the company expect Q1 net income to be negatively impacted.
Further more the company stated that approximately 10,600 vehicles were in transit to customers globally, which would inflate the Q2 2019 delivery numbers.
Because of lower than expected delivery numbers TSLA stocks were down 8%, and trading at approximately 30% below the 52 weeks high of $387.31.
Other factors that will negatively affect the TSLA stock price in the coming weeks or days will be SEC's fight with Elon Musk over a production tweet.
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