Tesla Misses Model 3 Production Goal Over 'Bottleneck'

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Recall that Model 3 was launched in July, the owner of the first descended from the conveyor of the electric auto this model was the head of Tesla Ilon Musk.

Just 260 examples of the Model 3 have been rolled out since production began in late July, through until September 30. In a statement to the BBC, the company revealed that while their California auto plant and our Nevada Gigafactory were able to operate at a high rate, a handful of other factories took longer to activate than they expected.

The current quarter is likely to come under heavy scrutiny for evidence that Tesla has dealt with manufacturing/supply chain issues and is rapidly raising output of the Model 3.

Tesla has a lot riding on the Model 3, which could be its most popular model if it can make its delivery schedule.

In the third quarter of 2017, Tesla said on Tuesday, the automaker delivered 26,150 vehicles.

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On July, electric vehicle manufacturer #Tesla officially launched its latest and most affordable automobile yet, the mass-market #Model 3 sedan. Wall Street stocks edged higher early today, adding to records on continued optimism about third-quarter earnings despite a disappointing production update from Tesla. That's way short of the 1,000 units target set by the company, with blame falling on "production bottlenecks". Deliveries of these two vehicles have remained roughly at these levels over the last four quarters, raising concerns that sales have leveled off.

Whatever they entail in Tesla's case, some sort of "bottlenecks" or hitches are nearly to be expected as a manufacturer rolls out a new product, especially one as complicated as a vehicle.

Unlike Tesla's solid Model S and X deliveries during the quarter, Model 3 deliveries were worse than the electric-car maker was aiming for.

In July-September, customers received only 220 new Model 3 sedan. Considering growing competition, Tesla even announced massive discount for its expensive models. "A recall on the Model 3 could be catastrophic".

However, many market analysts have started talking about Tesla losing ground to Chevrolet Bolt EV. It shows a modern looking truck which is quite similar to the teaser image Tesla had released in April.

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