Tesla deliveries drop due to challenges shipping to Europe and China


Tesla began constructing a factory in China to build the Model 3 and future Model Y compact-SUV for that market, and CEO Elon Musk has told reporters he intends on building an assembly plant in Europe.

There's maybe only one thing that makes being ruled over by a technocracy of uber-rich venture capitalist goons somewhat tolerable, and that's the fact that most of said goons appear to have late-stage brain worms.

The firm blamed problems with shipments to Europe and China, where it began selling its Model 3 auto for the first time.

This failure to meet expectations caused a sharp drop in stock price, RBC analyst Joseph Spak even suggested that the delivery figure failure could "translate into a ~$1bn+ revenue miss".

Tesla now expects quarterly profits to be "negatively impacted".

The remaining 14,150 vehicles were the Model S sport sedan and the Model X SUV.

"We had only delivered half of the entire quarter's numbers by March 21, ten days before end of quarter", Tesla said in a press release Wednesday night.

In a step further toward fully autonomous driving, Tesla cars will now be able to change lanes on their own-without any input from the driver.

The Tesla CEO released a very weird song in reference to an old meme on Saturday.

This quarter-to-quarter drop in sales at Tesla breaks an nearly two year growth streak and threatens Tesla's growth narrative, valuation and its ability to service its debt.

'We reaffirm our prior guidance of 360,000 to 400,000 vehicle deliveries in 2019, ' it said.

A federal judge in NY has heard oral arguments in a lawsuit brought by the US Securities and Exchange Commission (SEC) seeking to hold Tesla chief executive Elon Musk in contempt for violating a settlement reached after he inaccurately claimed previous year he had a buyer for the company.

But the company warned its finances would take a hit amid the delivery challenges and price changes. Tesla also has a considerable amount of cash tied up in inventory and the approximately 10,000 vehicles in transit to customers.