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David.MitchellDavid Mitchell is a seasoned professional with over two decades of experience in the world of finance and investment. With a strong passion for the biotech industry and a keen eye for market trends, David has established himself as a trusted advisor for investors seeking opportunities in the ever-evolving biotechnology sector.
In the fourth quarter of 2023, Tesla successfully delivered approximately 435,059 vehicles and manufactured 430,488 cars. Moving back to the second quarter of that year, Tesla had disclosed impressive figures, with total deliveries reaching 466,140 vehicles and total production hitting 479,700 units. A year earlier, during the same period in 2022, Tesla's total vehicle production stood at 365,923, while deliveries amounted to 343,830 vehicles. Notably, Wall Street's expectations were centered around Tesla reporting deliveries of 461,640 vehicles.
The company attributed the ongoing decrease in volumes to scheduled plant shutdowns for necessary upgrades, as previously detailed in the last quarterly reports press conference," stated the company. "We want to emphasize that our volume goal for 2023, which stands at around 1.8 million vehicles, remains unaffected. It's important to note that production and delivery figures for the Semi, the electric truck, are not included in the current report. However, it's worth mentioning that some Semis have been delivered to PepsiCo, one of our valued customers, for specific delivery purposes.
Conversely, in the third quarter of 2023, the electric vehicle maker RIVIAN achieved a delivery milestone of approximately 15,564 vehicles. This marked a substantial 23% surge from the preceding quarter and exceeded the anticipated delivery figure of 14,000 vehicles. In tandem with these impressive deliveries, RIVIAN also recorded the production of 16,304 vehicles throughout the third quarter, maintaining its commitment to producing a total of 52,000 electric vehicles in 2023. RIVIAN's production lineup encompasses a range of electric vehicles, including delivery vans for Amazon, in addition to its proprietary R1T van and R1S SUV, all of which are fully electric.
Earlier this year, the company undertook several measures to trim expenses and fortify its financial position. These actions included a workforce reduction of 6% in February and a significant $1.3 billion sale in March. Additionally, the company made the strategic decision to postpone the introduction of its compact R2 vehicle platform from 2025 to 2026. As of June 30, the company boasted a substantial cash reserve of $10.2 billion. The company is slated to release its financial statements on November 7.
NIO achieved a remarkable milestone by delivering 55,432 electric vehicles, marking an astonishing 755.4% surge when compared to the same period last year. This performance slightly exceeded the company's quarterly projection, which had been in the range of 55,000 to 57,000 cars. Notably, one notable event during this period was the commencement of deliveries for the smart SUV EC6 electric coupe, which began on September 15.
Meanwhile, XPENG reported delivering 40,278 vehicles in the third quarter, indicating a substantial increase of approximately 36% compared to the previous year. On the financial front, Wall Street anticipates third-quarter revenues to reach around $1.2 billion, reflecting a growth of roughly 25% compared to the corresponding period in the prior year.
LI AUTO, too, achieved remarkable progress in the third quarter of 2023, delivering a total of 105,108 vehicles, marking an astonishing increase of nearly 300% compared to the previous year. In terms of revenue, Wall Street projects significant growth for the third quarter, estimating an approximately 245% increase compared to the corresponding period last year, reaching approximately $4.6 billion.
Please note that the article should not be considered as investment advice or marketing, and it does not take into account the personal data and requirements of any individual. It is not a substitute for the reader's own judgment, and it should not be considered as advice or recommendation for buying or selling any securities or financial products.
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Disclaimer:
The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained.
The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.
Please note that no offer or solicitation to buy or sell securities, securities derivatives of future products of any kind, or any type of trading or invesment advise, recommendation or strategy, is made, given or endorsed by StocksRunner including any of their affiliates ("TS").
This information is provided for illustrative purposes only. You should not rely on any advice and/or information contained in this website and before making any investment decision. we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.
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Disclaimer:
The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained.
The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.
Please note that no offer or solicitation to buy or sell securities, securities derivatives of future products of any kind, or any type of trading or invesment advise, recommendation or strategy, is made, given or endorsed by StocksRunner including any of their affiliates ("TS").
This information is provided for illustrative purposes only. You should not rely on any advice and/or information contained in this website and before making any investment decision. we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.
