The coronavirus is putting a dent in Tesla deliveries [Los Angeles Times (CA)]
Tesla, Inc. (TSLA)
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Source: Los Angeles Times
Tesla fell victim to the coronavirus-affected economy in the first quarter, delivering 88,400 cars worldwide. In the previous quarter, Tesla had delivered 112,000 vehicles . Analysts warn that worse is coming. The commercial effects of the virus pandemic didn’t begin to affect the United States until March, so second-quarter sales are expected to be hit much harder, with second-half 2020 results nearly impossible to predict. Chief Executive Elon Musk’s target of 500,000 deliveries this year will now be “virtually impossible,” said Dan Ives, who follows the company for Wedbush Securities. Ives has lowered his year-end forecast to 400,000 to 425,000 vehicles, while the ever-bullish Joseph Osha of JMP Securities pegs his forecast at 523,000. But under stay-at-home restrictions of extended duration and worldwide economic uncertainty, those numbers amount to best guesses. “It’s like a game of blindfolded darts,” Ives said. Tesla’s 2020 first quarter did top the 63,000 vehicles delivered in
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