Tesla made over 22,000 more EVs than it delivered to customers in the third quarter. That is the first time it has had to finance that many cars in inventory. Tesla blamed transport issues for a delivery total that fell short of Wall Street expectations. Morgan Stanley analyst Adam Jonas said Tesla did not face an immediate demand problem, but added a caution on pricing and Tesla’s ability to buck the economic cycle. Tesla’s average vehicle transaction price jumped 31% to $69,831 in August, compared with $53,132 at the start of 2021, according to Kelly Blue Book. In China, that lag, one indicator of the supply-demand balance, has been cut four times since August to a minimum of a week for delivery. . . .
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