Tesla Loses After Model 3 Sales in Q3 Missed Forecast

Tesla Loses After Model 3 Sales in Q3 Missed Forecast

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Tesla shares were losing on Tuesday after it again failed to meet expectations. The US manufacturer of luxury electric cars delivered 220 units of the new Model 3 in the third quarter of the year, a figure well below the 1,500 units it forecast last summer.

On the contrary, the entity said that during that period the total number of vehicles delivered to its buyers was 26,130 units, 4.5% more than 2016. Of these, there were 14,065 Model S, 11,865 Model X and the aforementioned 220 of Model 3.

In the statement issued, the company justifies the meager level of deliveries of its mass car claiming to have run into a major bottleneck problem, though without further details. In any case, Tesla has tried to appease the nervousness in the investors and in its clientele and has assured that “they are not fundamental problems that affect the production or the chain of supply of Model 3”.

Tesla CEO Elon Musk predicted last summer that by September the monthly manufacturing rate would be set at 1,500 Model 3, before making the jump in December to 20,000 units a month. A target of 5,000 cars per week which, according to the latest figures presented, seems unfeasible at the moment.

But in the Palo Alto firm they are already familiar with the difficult initial period to develop scale production. A task that Musk himself dismissed a few months ago. Now, the big question is whether this delay will lead to delays deliveries to its buyers since the first Model 3 were delivered to their workers.

In an upcoming event, Tesla is expected introduce a truck in late October. Tesla plans are sometime much more ambitious than we can often imagine. Tesla pursues the complete transformation of the energy model. And in that process the transport of goods by road also have to play a really important role. A photo was published here, thanks to a user of Reddit who took this image in “an undetermined place in California, where Tesla usually tests their cars.”

Without any logo to confirm it, it’s hard to imagine if it’s really Tesla’s electric truck. But the design of this tractor, with the headlights on the wheel arches, would fit perfectly with an official preview of Tesla.

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Zac Berry is presently a full time editor at Market Morning. He covers the M&As and follows live market commentary. Before joining Markets Morning, Zac Berry worked with a start-up, where he worked in the capacity of a Team Leader tracking company events and results. Born in the U.A.E, he spent most of his growing up years in Dubai. Currently, he resides in U.S. and is pursuing his charter in Accountancy.

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