Posts Tagged ‘Tesla Model 3 build’

Tesla Misses By a Mile its Model 3 Target

Models S and X beat forecast, but slow ramp-up of smaller sedan poses big problems.

by on Jan.03, 2018

A new Model 3 in front of Tesla's Fremont, California assembly plant.

Despite promises by CEO Elon Musk, Tesla has yet to dig its way out of the “production hell” it has faced since the launch of its Model 3 battery sedan last July.

The Silicon Valley carmaker said it delivered just 1,550 of the “affordable,” long-range electric vehicles during the fourth quarter, well below what industry analysts had been anticipating. Some had forecast the numbers would come closer to 9,000 for the October-December quarter, with even pessimists forecasting something closer to 4,000.

Industry News!

The shortfall means that many of the roughly 400,000 customers who have plunked down $1,000 deposits for a Model 3 could be waiting well into 2019 before taking delivery, observers warned. It also raises the specter that Tesla might have to seek more capital to offset continuing losses. The company had said it would finally get into the black as production reached the longer-term target of 10,000 vehicles a week. (more…)