Analyst: Tesla to miss delivery expectations of Model 3 again
The premium car company is not expected to hit its goal until 2019
The premium car company is not expected to hit its goal until 2019
Tesla Model 3, the company's so-called affordable electric car, may not make its promise to deliver 5,000 cars a week until 2019.
So says analyst Gene Munster, of Loup Ventures, who believes the Model 3 will have its big year — next year, reports U.S. News & World Report.
Tesla had promised to deliver the "world's best AI" with the Model 3. But Tesla had also promised to roll thousands of cars a week out of its factories by the end of 2017. Just 300 had been delivered by November — even as more than half a million pre-orders were booked, starting in 2016 when people stood in line, overnight, for the rights to even buy one of the cars.
Problems at the Gigafactory — where Tesla's batteries are made — have been one problem, says the company. (Elon Musk, Tesla's founder has described the time as "production hell.") But Tesla has hit other bumps in the road. Musk also postponed a big reveal of a new line of electric trucks which had been scheduled for late October.
Still, many believe Tesla will eventually pull through, with the Model 3 a bit hit. And while the company is reporting earnings this week — along with updates on how many Model 3 cars have been delivered — analysts including Munster consider the car maker's delays no more problematic than growing pains other car companies will have when they start to produce electric and autonomous vehicles as well.
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