Apr 4, 2019

Tesla deliveries fall short of Wall Street expectations

Photo: Justin Sullivan/Getty Images

Tesla said Wednesday night it delivered 63,000 cars during the first quarter, less than the 76,000 analysts expected, and 30% fewer cars than the prior quarter. Production of its Model 3, S and X models — which came in at 77,100 vehicles, more than the fourth quarter — outpaced deliveries, the company said, thanks to longer transit times to customers in Europe and China.

What's next: The company warned that "lower than expected delivery volumes and several pricing adjustments," would hurt the company's profits — expected to be released next month. CEO Elon Musk already dialed back expectations that Tesla would turn a a profit in the first quarter.

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Kendall Baker

MLB's Rob Manfred is latest villain in Astros' cheating scandal

Illustration: Aïda Amer/Axios

MLB Commissioner Rob Manfred's decision to grant Astros players immunity in exchange for confessions about their sign-stealing scheme has undermined his reputation — and he only made himself look worse on Sunday.

The interview: In a 45-minute conversation with ESPN, Manfred asserted that public shame was punishment enough for the Astros. He also called the World Series trophy "just a piece of metal" and said that taking a title away from Houston "seems like a futile act."

Go deeper27 mins ago - Sports

Dion Rabouin

Economists warn coronavirus risk far worse than realized

Photo: Anthony Wallace/AFP via Getty Images

Worries are growing that the economic impact from the novel coronavirus outbreak will be worse than expected and that markets are being too complacent in factoring it in as a risk.

What's happening: The number of confirmed cases has already far outpaced expectations and even those reports are being viewed through a lens of suspicion that the Chinese government is underreporting the figures.

Go deeper1 hour ago - Economy & Business

Sara Fischer

National newspapers thrive while local outlets struggle to survive

Illustration: Sarah Grillo/Axios

While big national newspapers grow stronger, local newspaper chains that have for decades kept the vast majority of the country informed are combusting.

Why it matters: The inequity between giants like the New York Times and the Wall Street Journal and their local counterparts represents a growing problem in America as local communities no longer have the power to set the agenda for the news that most affects them.

Go deeper2 hours ago - Economy & Business