Sci-tech

Tesla Model 3 deliveries could be worse than expected in 2018

Tesla Model 3 deliveries could be worse than expected in 2018

Despite Tesla having as many as 400,000 orders for the auto Elon Musk views as the entry-level option for the mass adoption of EVs, the company admitted that it has only managed to produce 260 of the Model 3 since its launch this summer.

Late Monday, Tesla Inc. reported production and deliveries for the third quarter.

"We see the 5k a week production goal to exit 2017 at risk given the lack of disclosure provided in fixing the "handful" of subsystems that are taking longer than expected", said Cowen and Co analysts, who already rate Tesla an underperform. He mentioned that production will be ramped up "exponentially" and that the company should produce 100 units in August and above 1,500 Model 3 units in September.

Tesla said that there were no fundamental issues with the Model 3 production or supply chain and production issues would be addressed in the near term.

Price four-door electric auto Model 3 in the basic configuration is $35 million, which is nearly half the price at the previous Tesla cars. The established Model S sedan and Model X SUV came out a rate 4.5 percent higher than the same quarter past year.

Altogether, Tesla anticipates full-year deliveries around 100,000 for a 31-percent increase over 2016.

A Starbucks store is seen inside the Tom Bradley terminal at LAX airport in Los Angeles California United States
Don't do it Tesla!Thomson Reuters

On July, electric auto manufacturer #Tesla officially launched its latest and most affordable automobile yet, the mass-market #Model 3 sedan.

After the bell on Monday, Tesla released production numbers for the third quarter.

Tesla delivered just over 22,000 vehicles in the second quarter. In the third quarter, Tesla delivered 26,150 vehicles, of which 14,065 were Model S, 11,865 were Model X, and 220 were Model 3. The stock still performed better as investors are confident about stronger sales number for Model 3. And, according to global product development chief Mark Reuss, it will launch two more pure battery-electric vehicles, or BEVs, within 18 months, with a total of "at least 20" to be in its line-up by 2023.

Tesla said the problems were not even close to permanent. Tesla has offered value for money in Model 3 and one major drawback for Model 3 is the paid access to superchargers. Tesla has disrupted the global auto industry with its stylish electric cars, but it now faces growing competition from the likes of Daimler AG, Volkswagen AG and General Motors Co.

Tesla clearly thought ahead on the Model 3.

For now, Tesla's first "mass market EV" remains a scarce commodity.


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