An anonymous reader quotes Forbes:
Tesla’s stock dropped 8% Thursday on the news that Q1 deliveries fell 31% from the previous quarter. However, being a seasonal business, car companies usually compare their results against the same quarter from the previous year. On that basis, virtually all of the major car companies have said Q1 sales will be flat to 7% lower than last year. In contrast, Tesla’s deliveries are up 110% from last year. From the one year perspective, Tesla is the only car company that is growing…
Yesterday’s headlines which focused on the 31% decline are factually correct but misleading. Moreover, Tesla said that delays in deliveries to Europe and China caused “a large number of vehicle deliveries to shift to the second quarter. At the end of the first quarter, approximately 10,600 vehicles were in transit to customers globally…” Had Tesla managed the increased deliveries in Europe and China a little better, they might have come close to Wall Street’s expectations.
On Friday, Tesla’s stock bounced up 2.68%.
of this story at Slashdot.
Source:: Slashdot