TECH - UAW Strike Overshadows Strong Q3 Deliveries | Benzinga
On Monday, Tesla Inc (NASDAQ: TSLA) reported its vehicle deliveries slowed down during the third quarter, raising concerns about flagging demand. Also on Monday, Tesla EV rival, Rivian Automotive (NASDAQ: RIVN) topped quarterly delivery estimates as it more than doubled EV production. On Tuesday, General Motors (NYSE: GM), Toyota Motor Corporation (NYSE: TM) and Honda Motor Co Ltd (NYSE: LTD) also told a different story by posting stronger-than-expected US auto sales.
Tesla Came Short Of Estimates But Remains On Track To Achieve Its Annual Targets
Analysts expected Tesla to report a decline as the EV king paused production at some of its facilities in order to refit its assembly lines. Tesla delivered 435,000 vehicles worldwide in the third quarter, which is less than 466,000 EVs it delivered in the second quarter. But Tesla reaffirmed it is still on track to deliver 1.8 million vehicles this year, topping 2022’s deliveries of 1.3 million EVs.
Rivian Beats Q3 Delivery Estimates As It Doubles Production
As supply chain challenges eased, Rivian ...