Tesla's third-quarter deliveries of 462,890 vehicles fell short of analyst expectations, signaling potential difficulties in meeting future delivery targets amid stiff competition and changing consumer preferences.
Analyst Gadjo Sevilla noted, 'Falling short of expectations could indicate difficulty in meeting overall delivery targets for 2024 and prospects for sustainable growth beyond the current lineup.'
Tesla now faces the challenge of achieving a record-breaking 516,344 vehicle deliveries in the fourth quarter to keep its 2023 target of 1.81 million vehicles.
With aggressive competition from local automakers in China and shifting consumer interest towards hybrids, Tesla's position in the market has become more precarious.
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