Tesla’s shares fell by 3.3 percent after it announced it ended the second quarter below the previous deliveries expectations.
Investors have lately started to show their reluctance towards Tesla’s ambitious goals of selling 500,000 cars by 2018, as the latest misses have put under doubt the company’s ability of handling the hype around its upcoming 35.000-dollar Model 3. After the electric car maker did not meet its sales expectations for the first quarter, because parts shortages hampered the production, Tesla announced this week it managed to deliver just 14,370 vehicles, below the initial forecast of 17,000 units. As a result, it will probably miss the annual goal of 80,000-90,000 shipments. Tesla’s shares declined nearly 13 percent this year through Tuesday.
The carmaker has also other worries, after US regulators opened an investigation into its Autopilot system after a driver of a Model S cruising with the tech engaged was killed in an accident on May 7 in Florida. Tesla said that the crash was the first known fatality in more than 130 million miles of Autopilot driving, but the most concerning issue was the fact that the system failed to notice the white side of a tractor trailer against a brightly lit sky.
Furthermore, investors are also questioning Elon Musk’s intention of buying the SolarCity firm, a maker of solar roof panels, in a stock deal worth as much as 2.8 billion dollars. But what is more interesting around this deal is the fact that Musk is the chairman of SolarCity and the largest shareholder of both companies.