Tesla suffers from a rising dollar. As a result, the American manufacturer of electric cars is not able to increase its sales as much as experts widely expected. Elon Musk also says it has logistical problems, making it more difficult to deliver cars to customers.
Tesla will eventually report $21.5 billion in revenue in the third quarter. This is more than half compared to the same period last year. But analysts expected a better figure. Cars that Tesla sells outside the US now yield less due to the current dollar exchange rate.
It was previously announced that the company delivered a total of 343,830 vehicles during the measurement period. This meant a new record, but the experts overall were counting on at least 358,000 cars finding their way to customers.
On Wall Street, the numbers don’t seem to be going well. Below the line, there is approximately $3.3 billion in profits on the books. This represents more than double last year’s profit and a windfall compared to expectations.
The Austin, Texas-based company is committed to its long-term plans to increase vehicle deliveries by 50 percent annually. Deliveries of the new semi-truck are also expected to begin in December.
But it is not that easy. While parts availability was somewhat of an issue last quarter, Tesla said it has become an increasingly difficult task to move cars from its factories to markets at peak times.