Tesla Shares Tumble as Sales Plateau
Bloomberg ------- Tesla Inc. shares fell to the lowest in more than a month after the electric-car maker reported flattening sales ahead of introducing a Model 3 sedan that buyers still know little about.Shares of the company run by Elon Musk plunged as much as 5.6 percent Wednesday to $332.71. Tesla reported more than 22,000 vehicle deliveries in the second quarter, down from 25,051 in the first three months of the year. Demand for Tesla’s higher-priced Model S sedans and Model X sport utility vehicles appears to be plateauing, analysts at Goldman Sachs Group Inc. and KeyBanc Capital Markets said in reports after the company released its sales figures Monday. Musk is relying on appetite for those vehicles remaining strong as the Palo Alto, California-based company spends heavily to bring out the more affordable Model 3 sedan. Tesla plans to hand over the keys to about 30 customers on July 28. To learn more click on the picture below to read the article.