Tesla's Model 3 delivery numbers were below even analysts' tempered expectations.
Tesla vehicles sit in a parking lot before being shipped from San Francisco in February. By Faiz Siddiqui and Faiz Siddiqui Local reporter covering the D.C.
The company’s announcement Wednesday -- that it would deliver 360,000 to 400,000 vehicles -- further undermines"a key tenet of CEO Elon Musk’s legal defense against the SEC,” JPMorgan Chase said in an analyst note Thursday. Entering the courthouse Thursday, Musk said before a gaggle of reporters, “I have great respect for the justice system,” according to CNBC.
Tesla cited a “massive increase in deliveries in Europe and China” and chalked the delivery troubles up to “many challenges encountered for the first time” in a statement detailing its first-quarter production and deliveries. The automaker declined, however, to specify the nature of the challenges or how it plans to catch up — on the heels of its long-promised $35,000 Model 3 and the announcement of the new Model Y crossover.
Tesla warned not to view vehicle deliveries as a reflection of its broader financial picture; its quarterly earnings remained unreported.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla's Elon Musk in court as judge weighs SEC contempt caseTesla CEO Elon Musk arrives at Manhattan court where judge will weigh SEC contempt case
Read more »
Tesla CEO Elon Musk at Manhattan court for contempt hearing: CNBCTesla Inc Chief Executive Elon Musk arrived at Manhattan federal court on Thursd...
Read more »
Tesla, SpaceX CEO Elon Musk releases rap song: 'RIP Harambe'Elon Musk has built rockets, made electric cars, drilled tunnels and now, apparently, released a rap song.
Read more »
Elon Musk: Self-driving Teslas are going to make their owners money by competing with Uber, LyftElon Musk: Self-driving Teslas are going to make their owners money by competing with Uber, Lyft via CNBCMakeIt
Read more »
US judge gives Tesla CEO Elon Musk, SEC two weeks to work out their issuesUS Judge Alison Nathan ordered Musk and the SEC to 'take a deep breath, put on your reasonableness pants' and work out a solution.
Read more »
Tesla and Elon Musk are creating a credibility problemOn the very day that Tesla Inc. Chief Executive Elon Musk faced a federal judge to argue that his tweets have not violated an agreement with U.S. regulators,...
Read more »
Tesla's Elon Musk to square off with SEC in court at contempt hearingLawyers for Tesla Inc Chief Executive Elon Musk will argue on Thursday that he d...
Read more »
Factbox: Elon Musk, unabridged, on TwitterTesla Inc Chief Elon Musk is a prolific tweeter, and on Thursday, a judge will d...
Read more »