Tesla's third-quarter sales of 462,890 marked its first quarterly increase of the year, driven by an aggressive delivery push and financing incentives. Despite this, shares dropped 4% in early trading, reflecting a broader slowdown in global EV demand.
Elon Musk's focus has shifted towards autonomy as the new growth driver for Tesla, indicating that sales figures are less critical in a sluggish market where all automakers face falling demand for new vehicles.
Analyst Dan Ives noted that while the sales numbers are positive, they didn't meet investor expectations, suggesting ongoing pressure on Tesla’s stock despite the reported gains.
A monumental increase in sales is necessary for Tesla to exceed last year's figures, indicating that the company's ability to maintain growth is amidst significant market challenges.
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