23:39:35 EDT Thu 25 Apr 2024
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Tesla Inc CDRs (CAD Hedged)
Symbol TSLA
Shares Issued 5,450,000
Close 2022-09-30 C$ 25.27
Market Cap C$ 137,721,500
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Globe/wire say Tesla hit by more logistical challenges

2022-10-03 09:26 ET - In the News

The Globe and Mail reports in its Monday edition that Tesla on Sunday announced lower-than-expected electric vehicle deliveries in the third quarter, as logistical challenges overshadowed its record deliveries. A Reuters dispatch to The Globe says that the world's top electric car maker said, "It is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost." Some analysts are also concerned about demand for high-ticket items owing to the weakening global economy. "The economy around the edges is still having a negative impact for Tesla that's mostly logistical. But that I think there is some demand [issues] sprinkled in there," Wedbush Securities analyst Dan Ives told Reuters. "There is a dark cloud over the auto sector. And Tesla is not immune." Tesla chief executive officer Elon Musk said on Twitter on Sunday, "Smoothing out crazy end of quarter delivery wave to reduce expedite costs & relieve stress on Tesla team." Last year, he said Tesla is having a "crazy wave" of deliveries at the end of each quarter, because its Shanghai factory makes cars for exports to Europe and other countries in the first half of a quarter and then cars to be sold in China.

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