Toni Sacconaghi said increased competition abroad is responsible for the weakness in Tesla's sales volume.
Bernstein said increased competition abroad is responsible for the weakness in Tesla's sales volume.
The firm said increased competition abroad is responsible for the recent weakness in Tesla's sales volume. Tesla's financials have been weighed down this year due to the Model S an X volumes falling, the analyst said. In the first half of 2019, the Model S and X gross profit dollars fell 57% year-over-year, Bernstein notes. Typically, Tesla produces about 20,000 to 25,000 Model S and X cars each quarter, but a drop in orders brings the average to around 14,000 per quarter. Tesla's stock has reflected the weakness, as it has plummeted more than 30% this year.
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