Monday November 30, 2020

Tesla shares plummet as Musk fails to deliver

A record decline in deliveries in Q1 prompts fears of slackening demand for its electric Model 3 sedan

7th April, 2019
Tesla chief executive Elon Musk. Pic: Getty

Tesla shares plummeted last week as a record decline in deliveries during the first quarter sparked concern over slackening demand for the Model 3 sedan that started selling less than two years ago.

The electric-car maker delivered 63,000 vehicles in the three months to the end of March, down from 90,966 in the fourth quarter of 2018. The revelation saw Tesla shares sink as much as 11 per cent to $260.59.

In the US, where Tesla introduced the Model 3 sedan...

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