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Tesla Shares Stall on Lower Delivery Estimates

Stockhouse Editorial
0 Comments| January 2, 2019


Mixed news from Tesla (NASDAQ: TSLA) sent its stock lower on Wednesday. The electric car maker announced that it delivered 90,700 vehicles in Q4 2018, short of Wall Street estimates. This was despite ramping up production during the quarter and releasing 86,500, up from 80,142 in Q3 2018. Even so, the company noted that it delivered a record number of vehicles last year, 245,000, nearly as many as all previous years combined.

TSLA shares fell more than 9% after market open. The company also announced that it is cutting prices by $2,000 (USD) on all of its models in a move to offset a federal tax credit reduction for electric vehicle drivers.




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