Tesla whiffs on Q3 deliveries, says factory ‘downtimes’ to blame

News Snapshot:

Tesla (TSLA) reported third quarter delivery figures that missed the mark, as scheduled downtime at some of its plants shifted future production further into the fourth quarter. Tesla said it delivered 435,059 vehicles globally, of which approximately 419,000 were Model Y and Model 3 vehicles and around 16,000 were higher-priced Model X and Model S cars. Wall Street consensus estimates had deliveries pegged at 456,722. “A sequential decline in volumes was caused by planned downtimes for factory upgrades, as discussed on the most recent earnings call. Our 2023 volume target of around 1.8 million vehicles remains unchanged,” Tesla said in...