Company News: results of Tesla Motors (TSLA) for the second quarter 2016 worse than expected
The company reported that in the second quarter it produced 18,345 cars, which is 20% more than in the first quarter, but lower than the forecast of 20.000 cars. Production reached 2.000 cars per week. Thanks to intensive unfolding of production, almost half of the total quarterly production took place in the last four weeks of the quarter.
Given the continued improvement in performance, Tesla expected to reach the level of production of 2.200 cars per week in the third quarter and 2,400 cars per week in the fourth quarter. In total the company plans to produce and deliver about 50 000 cars in the second half of 2016, which roughly corresponds to the entire volume produced in 2015.
TSLA shares fell in premarket trading to $ 207.80 (-4.02%).