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Tesla’s net profit doubles in the third quarter, but sales disappoint

Tesla doubled its third-quarter net profit, company CEO Elon Musk said on Wednesday, thanks in part to higher prices for its electric vehicles and a surge in deliveries, but its revenue disappointed . Elon Musk’s group posted a net profit of 3.3 billion dollars, very close to its record, for a turnover of 21.4 billion dollars when analysts expected nearly 22 billion.

The stock lost as much as 5% in electronic trading following the close on Wall Street, before recovering somewhat. Tesla has also maintained its long-term goal of growing its deliveries by an average of 50% per year, a goal that seems complicated to achieve in 2022.

Towards a drop in demand for Tesla cars?

Elon Musk’s company also assures that if it produced some 20,000 more vehicles than it delivered in the third quarter, it is to be attributed to the difficulties of delivery to customers. . An explanation that did not really reassure observers, some wondering if it was not rather a sign of a slowdown in demand.

Elon Musk has so far assured that he is not worried about this side, the waiting lists remaining long. But borrowing rates are skyrocketing, the economy is slowing, and the cheapest Tesla is $48,490. Also observers wonder if customers will continue to want cars at such high prices.

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