Top new models for SA

From Renault's new Alaskan bakkie to the latest models at the Frankfurt motor show bound for SA.

Electric cars in SA

The debate on whether or not Electric Vehicles (EV) are viable in South Africa rages on.

Tesla tumbles on weak output as stock drops

2016-07-05 17:12

PRODUCTION STALLS: Shares of Tesla Motors fell following disappointing production figures as US stocks opened lower.. Image: AP / Michael Probst

New York - Shares of electric-car maker Tesla Motors fell on Tuesday following disappointing production figures  as US stocks opened lower.

Tesla dropped 3.4% as second-quarter production came in at 18.345, below the 20 000 it previously forecast.

The weak figures come on the heels of other difficulties facing Tesla, including a negative reception for its proposed purchase of SolarCity and a fatal crash involving Tesla's self-driving system.

Key events this week include the release of the June US jobs report.

Five minutes into trading, the Dow Jones Industrial Average was at 17,862.19, down 0.5%.

The broad-based S&P 500 fell 0.5% to 2,091.62, while the tech-rich Nasdaq Composite Index lost 0.6% at 4,832.59.

Read more on:    tesla  |  industry news  |  stocks

Inside Wheels24

There are new stories on the homepage. Click here to see them.