Tesla Sales Report Fails To Impress Due To Slow Quarterly Growth

The company has been growing its sales yearly but the changes on a quarterly level have turned out to be quite slow and unsatisfactory.

Tesla Motors has announced its sales report for the third quarter of the current financial year and the numbers have not come around to be very well this time. The automotive producer is working hard towards achieving the targets it has set for itself for the coming couple of years, and the reports that have emerged show that it has failed to impress itself as much as it would have wanted.

The sales report that came around for all the auto companies in the industry showed that the smart car makers managed to sell around 11,580 electric cars in the third quarter alone which was informed to the investors and analysts on Friday, in a press release.

If compared to the sales of the same quarter of the previous year, the increase has been recorded at around 49%, a massive jump for the company to take. However, there was a rise seen even on a quarterly level as compared to the quarter before the third one, the auto giant sold 50 vehicles less than the present one, which was a small improvement from the company's side, but one nonetheless.

On the positive side, the sales figures that have been announced by Tesla business are almost in line with the guidance that was provided by the company to its investors at the end of the second quarter of the year. Analysts, on the other hand, have shown concerns about how the auto maker seems to be working fine if its stock is looked at from a distance, but keeping in mind the growth it has been showing on a quarter to quarter level, the figures that have been extracted are not quite satiable for the investors on the whole.

Analysts are also of the opinion that the major reason for the low sales figures on a quarterly level that has caught attention of the market pundits is how the luxury car makers halted operations at one of their factories which brought about a major lacking in the deliveries. As per a press release made by the management of the firm, the halt of production at the factory to take a few steps ahead and make a comeback in a much better way, working on the efficiency of the plant as well. This was informed to the investors in the earnings and sales release that the company made in the last quarter.