Lower Model 3 prices can’t prevent Tesla’s slide by 3% after deliveries fail to impress; Tesla opens orders to Europe and China

Tesla Inc. (TSLA) values plunged in trading after news it was cutting prices on the Model 3 to make up for the reduced federal tax credits in the U.S. On the other hand, Tesla confirmed receiving nearly 14,000 Model 3 orders for Europe — which has become a focus for the company. Orders are also open to China.

Tesla declined in share values against slightly dissapointing Model 3 deliveries due to the loss of federal tax credits.


With 56,065 Model 3s delivered, less than the projected 63,150, Tesla was at 300.51, down 3.19% as of January 3, 2019. Aside from delivery issues, U.S. demand is down after the $7500 federal tax credit was eliminated.

The $2,000 price cut on all three models — meant to help compensate for the reduction in federal tax credits for EVs — seems to have reinforced negative sentiment, or at the least made little impact on confidence. Investor’s still don’t know if Tesla will be profitable, and may not know for some weeks, although it did build 61,394 Model 3s in the last three months.


The unique interior of the model 3.


The main focus of Tesla will be filling Model 3 orders, especially in Europe and China — in part to offset the loss of revenue in the U.S.

On the Model S and Model X, 2018 also fell slightly short of the goal of 100,000 deliveries, although it was closer with 99,394 confirmed deliveries.


Did you miss this?

Other Popular Stories

  • Aerospace industry trade war? $2 billion at stake as Canadian Foreign Affairs Minister reviews Boeing sole sourcing
  • Robots, 3D printing to revolutionize building industry unchanged for 5000 years
  • Hopes high for Bombardier CSeries breakthrough at Farnborough Airshow
  • US resumes exports of LNG
  • Will quotas, targets and better technology get more drivers into EVs?
  • Japanese claim breakthrough in hydrogen storage technology
  • 7 Award winners honoured for championing ontario's environment's zero-waste, low-carbon initiatives
  • Electricity-conducting cement could make runways, roads ice proof
  • Manufacturing gains in September driven by auto and food industries
  • Invest $50 billion in infrastructure over five years or fall further behind: Report
  • Samsung will invest $7 Billion for NAND flash-memory manufacturing in China
  • SpaceX Mars Exploration By 2019? Maybe not.
  • Ontario must develop its cybersecurity industry to remain competitive: report
  • Guidelines released for self-driving cars by Trump administration: "future of safety and mobility" according to some; recipe for "disaster" say others
  • Blue Origin rocket engines to be built in Alabama, employing up to 350
  • Keystone XL clears another hurdle but fight not over
  • Colossal Fusion Project Set to Transform the Energy Industry
  • Gardening in Space a Challenge for NASA
  • Agile robotic arm could catch space debris, falling humans
  • World's oil suppliers in for a shock: IEA
Scroll to Top