Tesla's Model S and Model X Deliveries Struggle to Regain Momentum
In Tesla's (NASDAQ: TSLA) update on quarterly deliveries Wednesday, it was clear that the Model 3 continues to win over consumers. Deliveries of the vehicle hit a new quarterly record of 79,600 and accounted for 82% of total deliveries. Compared to the year-ago period, Model 3 deliveries were up 42%.
Even more notable, the company said in its third-quarter update on deliveries that nearly all of its Model 3 orders during the quarter were from customers without previous reservations, "solidifying the transition to generating strong organic demand."
The narrative for Tesla's flagship Model S and Model X vehicles, however, is quite different. Sales of the high-priced vehicles have fallen sharply in recent quarters.
Source Fool.com
