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.

Engineered Design Insider Tesla model 3 2018Oil Gas Automotive Aerospace Industry Magazine
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.

 

Engineered Design Insider 2018 Tesla Model interiorOil Gas Automotive Aerospace Industry Magazine
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.

 

Engineered Design Insider Tesla model3 rightOil Gas Automotive Aerospace Industry Magazine

Did you miss this?

Other Popular Stories

  • Five Seasons Ventures Invests in European Food and AgriTech
  • Toronto team receives $250,000 prize for human-powered helicopter
  • Final testing of Bombardier's C Series to begin
  • Ford to boost profits by cutting 1400 salaried workers in North America and Asia
  • SWISS inaugurates commercial flights of Bombardier's CS100
  • The advantages of laser welding: automation, quality, no tool wear
  • $ Trillions needed to decarbonise global energy supply to meet Paris Agreement targets
  • Colossal Fusion Project Set to Transform the Energy Industry
  • Oil supply rising even as demand growth falls; investment likely to be slashed further in 2017
  • Canadian companies should look to Mexico for export growth: HSBC Bank Canada
  • Ontario's electricity operator announces 16 solar, wind and hydro contracts
  • Thunder Child, the unsinkable boat? Self-righting, wavepiercing interceptor engineered to be the perfect boat for offshore patrol
  • Conditional approval for Northern Gateway pipeline
  • Drivers want hydrogen-fueled cars says Hyundai
  • Wind to provide 20 per cent of world's electricity by 2030: report
  • Overheated bearings, gearboxes among causes of wind turbine fires
  • $2 Billion expansion of Nova gas pipeline planned by TransCanada Corp to increase pipeline capacity
  • Siemens Canada, Manitoba Hydro sign $800 million contract
  • Lockheed Martin reveals breakthrough nuclear fusion process
  • GO Transit may deploy hydrogen-power rather than electric; consults with Canadian fuel cell technology company that worked on world's first hydrogen-powered train
Scroll to Top