For Tesla skeptics, the automaker’s second-quarter delivery report gave them yet another reason to say “I told you so.”
The electric vehicle maker said over the weekend that it delivered 14,370 vehicles during its recently ended three-month period, which was well below analysts’ target for 17,000. It’s the second straight quarter the company’s deliveries have fallen short of expectations.
The miss added fuel to the fire of Tesla’s doubters, who have consistently criticized its inability to keep up with demand. That shortfall was particularly pronounced with its Model X vehicle, which stumbled out of the gate due to its complex design. Though production of this vehicle has since improved, it hasn’t been enough to quiet the company’s critics.
Yet while many on Wall Street questioned Tesla’s ability to meet its full-year delivery goals, others were undeterred by its latest results. Tesla shares moved just slightly lower on Tuesday, toward $ 209.
“This is not the first time Tesla has missed an aggressive target. Tesla has admitted to over-reaching on the complex design of the Model X, and they are paying the price,” Deutsche Bank analyst Rod Lache said in a note to clients.
Indeed, the automaker in April admitted that it was having trouble delivering on its goals, mentioning its own “hubris.” But loyal investors have continued to stand by the automaker.
Although Tesla shares fell 3 percent in the first trading session following its announcement, such a decline is hardly enough to raise eyebrows — especially for the company’s fanatics. Tesla’s stock price is notoriously volatile, with shares swinging between $ 286.65 and $ 141.05 over the past year.
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