Tesla Likely To Miss Delivery Target

Tesla has set a few ambitious goals, one of which they’ve just taken a small hit for missing.

Shares in the company fell 1.7% on Tuesday after Electrek reported that they delivered 49,000 cars in North America so far during Q2, falling short of the company’s goal of setting a new record.

Tesla CEO Elon Musk said last month that Tesla is on the way to delivering a record number of cars this last quarter. The company sent a record 90,700 cars to customers in North America during the last quarter of 2018. Musk reaffirmed on Tuesday that Tesla has enough orders to set another quarterly record for deliveries.

Electrek didn’t publish any numbers on Tesla’s global vehicle deliveries, but the site stated that if you add the deliveries in international markets, Tesla is very close to a new record. Tesla deliveries to places like China and Norway could push the numbers higher, and Tesla has another 12,000 orders ready in North America, meaning they could finish Q2 with 61,000 vehicle deliveries in North America. Q1, however, saw Tesla go through a 31% drop in deliveries within North America, raising concerns regarding the company’s ability to meet delivery and profit targets. Tesla has been fighting issues related to manufacturing and cash flow, while demand for Tesla vehicles is quite high. Despite this, concerns over the US-China trade war and demand for their Model 3 sedan and several other vehicles are on investors’ minds.

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