As logistical issues obscured its record deliveries, Tesla Inc (TSLA.O) on Sunday reported lower-than-expected electric vehicle deliveries in the third quarter.
The leading manufacturer of electric vehicles acknowledged that “it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost,” but some analysts were also concerned about demand for high-ticket items due to the weakening global economy.
“The economy around the edges is still having a negative impact for Tesla that’s mostly logistical. But that I think there is some demand (issues) sprinkled in there,” Wedbush Securities analyst Dan Ives told Reuters after the delivery results.
“There is a dark cloud over the auto sector. And Tesla is not immune.”
Apple Inc. (AAPL.O) is backing off plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize, Bloomberg reported last month, citing people familiar with the matter.
“I think that EVs are in for probably a little bit of a rough patch, just because people are probably going to be a little bit hesitant and less urgent to buy something new,” OANDA senior market analyst Ed Moya said.
