Tesla Doesn't Change Growth Goal Despite Coronavirus Uncertainty
April 02 2020 - 5:11PM
Dow Jones News
By Tim Higgins
Tesla Inc. said first-quarter deliveries of its electric
vehicles rose 40% compared with a year ago while not addressing how
the coronavirus pandemic might hurt future sales.
Investors are eager to better understand how the Silicon Valley
electric-car maker expects the global slowdown to affect Chief
Executive Elon Musk's growth plans, which have called for
deliveries to increase more than 36% this year compared with last.
Those ambitions to deliver more than 500,000 cars look to be in
jeopardy as Tesla's lone U.S. factory sits temporarily idled
because the local government has demanded nonessential businesses
remain closed into next month.
The company on Thursday said it delivered 88,400 vehicles
compared with 63,000 during the year-ago quarter when Model 3
compact-car deliveries were ramping up overseas.
Analysts surveyed by FactSet on average had predicted 89,000
vehicle deliveries during the period, a figure that was scaled back
in recent weeks from 106,000 projected in late January.
Tesla shares rose more around 13% after it posted delivery
figures.
(END) Dow Jones Newswires
April 02, 2020 16:56 ET (20:56 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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