Tesla misses estimates for quarterly deliveries; shares fall

Submitted ⁨⁨1⁩ ⁨year⁩ ago⁩ by ⁨Bobble9211@sh.itjust.works⁩ to ⁨technology@lemmy.world⁩

https://www.reuters.com/business/autos-transportation/tesla-reports-fall-third-quarter-deliveries-misses-estimates-2023-10-02/

Tesla reported a decrease in total deliveries for the third quarter of 2023 compared to the previous quarter, delivering 435,059 vehicles.
Despite the decline in deliveries, Tesla achieved a production of 430,488 vehicles, highlighting its manufacturing capabilities.
The decrease in deliveries and production was anticipated due to summer shutdowns for factory upgrades and price reductions on inventory vehicles and existing models.

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SinningStromgald@lemmy.world ⁨1⁩ ⁨year⁩ ago
I hope Musky can hear how much I just don’t fucking care if Tesla fails.

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- Someguy89@lemmy.world ⁨1⁩ ⁨year⁩ ago
  I find it hilarious that the “richest man in the world” is also the biggest loser. Eat a dick Elon!
  
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  - ihavenopeopleskills@kbin.social ⁨1⁩ ⁨year⁩ ago
    If I could have the engineering and enterprise acumen and portfolio and cash he does I would love nothing more than to be called a loser. That's winning to me!
    
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Horsey@kbin.social ⁨1⁩ ⁨year⁩ ago
I cannot for the life of me understand why anyone would buy a car without Android auto or CarPlay lmao.

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- NotSteve_@lemmy.ca ⁨1⁩ ⁨year⁩ ago
  I like old fashion knobs and buttons but also can’t afford a car from later than 2012 lol
  
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- ramblinguy@sh.itjust.works ⁨1⁩ ⁨year⁩ ago
  Not only can I not download a car, but now I can’t even download inside my car?
  
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- sky@codesink.io ⁨1⁩ ⁨year⁩ ago
  It’s $99/year. If you can afford a Tesla you can afford that. The software in the car is damn good.
  
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  - AngryCommieKender@lemmy.world ⁨1⁩ ⁨year⁩ ago
    No. Not everything should be comodified. Once I buy an appliance or a vehicle, I own it, and there is no reason, other than greed, that I should not be able to repair, modify, and use all the features that are included without paying extra fees. Life isn’t supposed to be expensive. Life is, in fact, free
    
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TenderfootGungi@lemmy.world ⁨1⁩ ⁨year⁩ ago
If shutdowns were planned, why were those not baked into the market estimates?

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- eltrain123@lemmy.world ⁨1⁩ ⁨year⁩ ago
  [deleted]
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  - PeachMan@lemmy.world ⁨1⁩ ⁨year⁩ ago
    Yeah it seems like it just took a little dip today and went back up, it’s higher now than it’s been most of the past week. Articles like this are dumb lol, stock prices are so random and volatile.
    
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darkmogool@feddit.de ⁨1⁩ ⁨year⁩ ago
oh no… anyway…

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Bell@lemmy.world ⁨1⁩ ⁨year⁩ ago
I will never understand why a best-in-class, made-in-america car gets so much hate from Americans.

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- specseaweed@lemmy.world ⁨1⁩ ⁨year⁩ ago
  Because its terrifying to drop $50k on a car whose future is tied to someone who is so obviously unhinged. Many companies are led by weirdos, but its a real problem when you don’t know if your car is going to work right based on the whims of said weirdo.
  
  Also, Musk has absolutely lied his ass off for years about the capability of the car.
  
  I owned a 2018 Model 3 LR and it was nothing but trouble. I couldn’t even use the cruise control because it would randomly smash the brakes on the freeway, even when there were no other cars around. My door panel would catch on the other panels when it opened, causing a decent sized dent. The trunk leaked. They would do updates that moved everything around and suddenly you can’t find the screen that opened the glove box. But it did make fart sounds hurr durr.
  
  No thanks.
  
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  - troydowling@lemmy.world ⁨1⁩ ⁨year⁩ ago
    You need a touchscreen to open the glovebox?
    
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- rauls4@lemm.ee ⁨1⁩ ⁨year⁩ ago
  Because it’s lead by narcissist, antisemite, egomaniac.
  
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  - Nucelar@kbin.social ⁨1⁩ ⁨year⁩ ago
    You sure did your research on the rest of the infustry?
    
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  - ihavenopeopleskills@kbin.social ⁨1⁩ ⁨year⁩ ago
    If you're going to virtue-signal about not supporting antisemites, please tell me you don't own any of these...
    
    any Chrysler/Dodge/Jeep from the late 90s to the late 2000s
    
    any Ford, Lincoln, Mercury or Merkur
    
    Dodge Charger
    
    Chrysler Crossfire
    
    2011 or later Jeep Grand Cherokee
    
    Hino
    
    Sprinter
    
    Mercedes-Benz
    
    Mercedes-AMG
    
    Audi
    
    Bentley
    
    Lamborghini
    
    Seat
    
    Skoda
    
    Volkswagen
    
    Volkswagen was literally started by the Third Reich and, along with Mercedes-Benz, utilized slave labor during WWII. Mercedes-Benz' parent company was part owner of Chrysler in the late 90s to the late 00s.
    
    Henry Ford received the highest civilian honor bestowed by the Third Reich, the Grand Cross of the German Eagle.
    
    While we're at it, make sure you don't have anything from Chase (financed Third Reich), IBM (provided information processing for extermination of Jews) or Bayer (came from IG Farben, makers of Zyklon B used to exterminate Jews in gas chambers).
    
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- Telodzrum@lemmy.world ⁨1⁩ ⁨year⁩ ago
  Because it’s not best in class and is made by nonunion labor? Honestly, even without the shitty dumbass owner, I’d never buy a Tesla because build quality and QA is shit tier.
  
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- BetaBlake@lemmy.world ⁨1⁩ ⁨year⁩ ago
  Because at it’s most basic level it’s not a good car, they aren’t well made, maintenance is expensive, and Elon should not be supported.
  
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- downpunxx@kbin.social ⁨1⁩ ⁨year⁩ ago
  Elon Musk is a fascist garbage person, and maybe most Americans actually give a fuck about that when deciding which brands should be supported and which shouldn't be
  
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- nowwhatnapster@lemmy.world ⁨1⁩ ⁨year⁩ ago
  Lotta hate in the comments here. I’ll speak to the car objectively. TLDR: it’s a great car, BIC and competitively priced, auto wipers are hit or miss. I’d buy it again given today’s options.
  
  I have a 2018 M3 RWD. 50k miles on it. Maintenance wise it’s one set of tires, a couple air filters, tire rotations and brake caliper lubes in that time. There was one mechanical failure, lower control arms which were covered under warranty.
  
  This excludes folks smashing into the parked car twice and related bodywork repairs.
  
  I did pay out of pocket for new side repeater cameras that don’t have the blinker occlusion at night. I sold the old repeaters on eBay so it was basically break even. Little bit of hassle for something I felt should have been covered under warranty.
  
  Software wise it was unstable in some of the early 2019 releases. Things like cellular disconnecting, backup camera lag, have all been sorted out now. Yes the UI changed a bunch over that time and not always for the better. But generally it’s advanced in a good direction. I’m considering these items early adoption issues and now that they’ve been resolved, do not factor into my opinion of the car.
  
  My biggest issue with car is the auto wipers not functioning consistently. Very hit or miss and have to switch to manual mode.
  
  FSD beta: I paid $5k for it. I don’t think it’s worth more than that. Did they deliver what was promised? No not really, it was over hyped. Highway driving is pretty solid I use it frequently though stop and go can be a bit rollercoastery at times. City streets has a ways to go still. Sometimes it navigates complexitys impressively well. Other times it fails on the most mundane task.
  
  That being said it’s been an absolute blast watching it progress over time. It’s made massive steps forward, but every two steps forward there was always a regression elsewhere.
  
  I don’t think FSD really influences my car purchase at this point. Do I regret buying it? No, not for the price I paid. If we exclude it for a moment, the M3 is still a best in class car in my option. I don’t see another model on the market with the same range and price point. Even when comparing it to say a Toyota Camry hybrid. It’s the same price with current incentives. And you don’t have to deal with a dealership their markups and high pressure sales BS.
  
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- ihavenopeopleskills@kbin.social ⁨1⁩ ⁨year⁩ ago
  Because it's the in thing to hate Elon Musk.
  
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Squizzy@lemmy.world ⁨1⁩ ⁨year⁩ ago
How do price reductions lower the deliverables?

And if it was due to it being inventory stock shouldn’t they have pumped up the numbers?

Everything I’ve heard from Tesla is they don’t have stock they just constantly churn out cars because they have a waiting list, where is this inventory stock coming from?

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autotldr@lemmings.world [bot] ⁨1⁩ ⁨year⁩ ago
This is the best summary I could come up with:

Oct 2 (Reuters) - Tesla (TSLA.O) missed market estimates for third-quarter deliveries on Monday as planned upgrades at its factories to roll out a newer version of the Model 3 mass-market sedan forced production halts.

Some analysts believe the upgrades could spark a rebound in deliveries in the fourth quarter by allowing Tesla to refresh its line-up with models that could compete better with offerings from U.S. rivals such as Ford and BYD in China.

Deliveries of the updated and higher-priced Model 3 compact sedan are expected to start in the fourth quarter, while a Cybertruck launch event is also planned later this year.

Tesla has also been cutting prices aggressively to counter the effect of a slowing EV market, while fending off competition from upstarts and legacy players.

“They are going to keep the pressure up on their competitors,” said Thomas Martin, senior portfolio manager at Globalt Investments, which holds Tesla shares, adding the company could cut prices even further.

Meanwhile, electric-pickup maker Rivian Automotive (RIVN.O) reported third-quarter deliveries above analysts’ estimates and reaffirmed its annual production target of 52,000 vehicles.

The original article contains 407 words, the summary contains 182 words. Saved 55%. I’m a bot and I’m open source!

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PostaL@lemmy.world ⁨1⁩ ⁨year⁩ ago
Where is the fall?

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netchami@sh.itjust.works ⁨1⁩ ⁨year⁩ ago
Not gonna feel sorry for them

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