Tesla Share Prices Takes A Hit After Another Model 3 Delay

Jon Howard
January 7, 2018

On the production side, Tesla is facing bottlenecks that have forced CEO Elon Musk to dial back his own mass manufacturing goals.

Tesla also said in its news release that 2,425 Model 3s were made in the fourth quarter (793 of those made in the last seven days of the quarter), about ten times as many as were produced in the third quarter at its Fremont, California facility. Now, the company says it expects to be producing 2,500 Model 3s weekly in the first quarter 2018, and 5,000 weekly by the end of June.

Slow production could affect the number of Model 3 buyers who receive the $7,500 federal electric vehicle tax credit, and it is unclear whether this may drive away buyers, said Cowen analyst Jeffrey Osborne. Model 3 deliveries to non-employee customers are now accelerating rapidly, and we're confident our customers will love them. We intend to achieve the 5,000 per week milestone by the end of Q2. After selecting the Model S Sedan with a 100 kWh battery, Tesla's trip planner tells me the 12-hour trip will be broken up by a 20 minute charge in Bourges, a 25 minute pit stop in Clermont-Ferrand, a 40 minute charge in Albaret-Sainte-Marie and then one last 40-minute top-up in Narbonne before hopping over the border to Barcelona. For the year gone by, Tesla delivered 102,432 vehicles, a solid increase from the 83,922 vehicles it delivered in 2016. "That the Model 3 is moving slowly isn't a surprise". Tesla reported it delivered 101,312 Model S and X vehicles in 2017, a 33% increase over 2016.

Nintendo Switch is the fastest selling console in the USA
On 1/4/18 Nintendo said in a blog post , " Nintendo Switch has become the fastest-selling home video game system in us history". Another big seller, with more than 55% of Switch owners laying down cash for, is "The Legend of Zelda: Breath of the Wild ".

The company said another 2,520 Model S and X vehicles and 860 Model 3 vehicles were in transit to customers at the end of the quarter.

The Model 3 notwithstanding, Tesla did manage to enjoy a successful quarter overall; the company delivered more than 29,800 vehicles over the past three months, setting an all-time quarterly record in the process. Yet in the same period, 63,000 were cancelled, Elon Musk said during Tesla's quarterly conference call in July-a figure he saw as insignificant as it happened over 12 months.

Other reports by PlayStation Move reviews

Discuss This Article