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

  • Honda expansion a win for Ontario's auto sector
  • General Motors Planning Autonomous Vehicles Sans Controls
  • Fiat Chrysler denies wrongdoing as EPA accuses it of emissions cheating
  • Breakthrough vehicles that dare to change the auto industry: 1300 hp EVs and 300 km ranges
  • California to test grid-scale power-to-gas energy storage
  • Little certainty about toxicity of BPA in food cans despite new report
  • Technically a recession, but is it already over?
  • Government renews $81 million contract with MacDonald Dettwiler for space work
  • Oilsands companies hope to innovate cleaner, more profitable future
  • New York's ban on fracking gives hope to other opponents
  • Solar researchers closing in on 50 per cent PV efficiency
  • Automotive and chemical manufacturing pull up overall Canadian manufacturing sales to higher level than projected
  • First new Canadian refinery in 30 years now on track for 2017
  • Supercapacitors Increase Performance and Longevity, Charge in Minutes
  • Ontario must develop its cybersecurity industry to remain competitive: report
  • SpaceX and ULA Score Major Air Force Contracts
  • Scientists Develop Sustainable Battery Using Tree Bark Tannins
  • Canadian manufacturing continued to slide in December, though not in Ontario
  • NASA Testing Technology Designed to Fold Wings During Flight
  • Airline debacle highlights need for businesses to be tech smart
Scroll to Top