Tesla’s stock tanked nearly five percent this week on concerns the company will miss its sales target in the fourth quarter. Stock fell despite the electric car-maker’s rolling out its first Chinese-made Model 3 vehicles.
Tesla just wanted to say that it has delivered cars in 2019, according to auto industry expert Lauren Fix.
“That’s more of a publicity stunt than anything else,” she told Boom Bust, adding that any company needs sales because “if there are no sales then you’re just producing product that just sits.”
The automotive expert notes “That’s what happened in the US with a lot of vehicles sitting in different locations around the country.” And that’s not good, she says, explaining that no one wants to build a product that’s not being sold, “you’d better have consumers wait.”
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