Tesla 3Q sales rise 27% but fall short of analysts' estimates due to price cuts and factory downtime

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Tesla’s summertime deliveries of electric vehicles surged 27% from last year but still fell below analyst projections as Elon Musk’s car company navigated through softening customer demand as well as factory upgrades.

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Analysts are anticipating Tesla will sell 1.84 million vehicles for the full year.to keep attracting buyers who now have a wider selection of electric vehicles as more automakers shift away from gasoline-powered cars and trucks. The discounts range from $4,400 on Tesla’s top-selling vehicles to as much as $20,000 on its most expensive models.Shares of Tesla fell 2.5% just after Monday’s opening bell.

 

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