Electric carmaker
The results were in line with analyst expectations, as the firm cooed the supply crisis better than many of its more established rivals.
However chief executive
“It was a solid quarter to volume wise, but I view it as a modest disappointment,”
The investor response was muted, with shares in the automaker up just 0.2 per cent so far today.
“Overall, the bulls are breathing a sigh of relief with these delivery numbers,” said
The deliveries of its Model 3 sedans and Model Y crossovers, its two lower priced variants, accounted for 99 per cent of its deliveries, offsetting a drop in deliveries of higher-end Model S and X vehicles.
“Our teams have done an outstanding job navigating through global supply chain and logistics challenges,”
He also said in early June that “Our biggest challenge is supply chain, especially microcontroller chips. Never seen anything like it.”
Brokerage RBC said, “Worst may be over for Tesla” for chip shortage, but added that potential margin impact from broad supply chain tightness could persist through the year.
The post
© City AM, source