Tesla reported record quarterly production and deliveries on Wednesday, but announced a price cut that could suggest softer demand. Tesla said it produced more than 61,000 Model 3 sedans in the final three months of 2018, an increase of 15 percent from the third quarter. It said the move was meant to partly absorb the reduction of a federal electric-vehicle tax credit for Tesla buyers. After the announcements, Tesla shares fell more than 8 percent. The sales figures were a report card on a year in which its chief executive, Elon Musk, said, “We’ve gone from production hell to delivery logistics hell.”

Source: New York Times January 02, 2019 15:56 UTC