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Tesla (TSLA) to Lower Down Vehicle Deliveries in Norway
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According to CNBC, Tesla, Inc.’s (TSLA - Free Report) CEO Elon Musk has asked his team in Norway to slow down deliveries of electric cars there due to issues pertaining to the local manufacturing supply chain. Notably, the electric vehicle maker is experiencing a lack of giant trucks to carry its vehicles safely around Norway. A truck, which was carrying Tesla Model S vehicles, was recently embroiled in an accident.
Two Tesla vehicles were crushed by the upper deck of the truck. Musk said, “I have just asked our team to slow down deliveries. It is clear that we are exceeding the local logistics capacity due to batch build and delivery. Customer happiness & safety matter more than a few extra cars this quarter.”
Norwegians are enthusiastic about Tesla electric vehicles. In 2017, the number of electric and hybrid vehicles registration was more than 50% of new registrations in Norway, driven by generous government subsidies. However, it has not been mentioned by how much the deliveries will be lowered and of which model(s).
In fact, Tesla is encountered with several challenges as it strives to bring electric vehicles into the mass market. Its future rests on the efficient and hassle-free production of Model 3 sedan.
In the past month, shares of Tesla underperformed the industry it belongs to. Over this time, shares of the company plunged 11.3%, whereas the industry declined 7%.
A few better-ranked stocks in the auto space are General Motors Company (GM - Free Report) , Volkswagen AG and AB Volvo (VLVLY - Free Report) . While General Motors sports a Zacks Rank #1, both Volkswagen and Volvo carry a Zacks Rank #2.
General Motors has expected long-term growth rate of 8.4%. The shares of the company inched up 1.2% in the past year.
Volkswagen has expected long-term growth rate of 18.7%. The shares of the company advanced 29.6% in the past year.
AB Volvo has an expected long-term growth rate of 15%. Past year, shares of the company rallied 22%.
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It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6% and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we’re willing to share their latest stocks with you without cost or obligation.
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Tesla (TSLA) to Lower Down Vehicle Deliveries in Norway
According to CNBC, Tesla, Inc.’s (TSLA - Free Report) CEO Elon Musk has asked his team in Norway to slow down deliveries of electric cars there due to issues pertaining to the local manufacturing supply chain. Notably, the electric vehicle maker is experiencing a lack of giant trucks to carry its vehicles safely around Norway. A truck, which was carrying Tesla Model S vehicles, was recently embroiled in an accident.
Two Tesla vehicles were crushed by the upper deck of the truck. Musk said, “I have just asked our team to slow down deliveries. It is clear that we are exceeding the local logistics capacity due to batch build and delivery. Customer happiness & safety matter more than a few extra cars this quarter.”
Norwegians are enthusiastic about Tesla electric vehicles. In 2017, the number of electric and hybrid vehicles registration was more than 50% of new registrations in Norway, driven by generous government subsidies. However, it has not been mentioned by how much the deliveries will be lowered and of which model(s).
In fact, Tesla is encountered with several challenges as it strives to bring electric vehicles into the mass market. Its future rests on the efficient and hassle-free production of Model 3 sedan.
In the past month, shares of Tesla underperformed the industry it belongs to. Over this time, shares of the company plunged 11.3%, whereas the industry declined 7%.
Tesla carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
A few better-ranked stocks in the auto space are General Motors Company (GM - Free Report) , Volkswagen AG and AB Volvo (VLVLY - Free Report) . While General Motors sports a Zacks Rank #1, both Volkswagen and Volvo carry a Zacks Rank #2.
General Motors has expected long-term growth rate of 8.4%. The shares of the company inched up 1.2% in the past year.
Volkswagen has expected long-term growth rate of 18.7%. The shares of the company advanced 29.6% in the past year.
AB Volvo has an expected long-term growth rate of 15%. Past year, shares of the company rallied 22%.
Today’s Stocks From Zacks’ Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6% and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we’re willing to share their latest stocks with you without cost or obligation.
See Them Free>>