• 11 hours The Unexpected Retail Segment On Track To Hit $68B
  • 3 days Oil Demand Falters On New Wave Of Lockdowns
  • 3 days Signal, Telegram Gain Ground As Social Censorship Breaks Headlines
  • 4 days Investors Should Be Worried About Tech Stocks
  • 6 days Battle For Market Share Intensifies In COVID Streaming War
  • 8 days Censorship Is Now Private, And That’s Scary
  • 11 days Markets Hit ‘Ignore’ Over Capitol Coup
  • 12 days Tesla’s China Strategy Is Yet Another ReasonTo Double Down
  • 14 days NYSE Reverses China Company Delisting Plans … For Now
  • 15 days The Dollar Could Remain Weak For Years To Come
  • 19 days The Simple Secret To Tesla-Like Gains
  • 19 days US-Listed China Stocks Have 3 Years To Become Transparent
  • 21 days $30,000 Is The New $20,000 For Bitcoin
  • 22 days Gold Slips Following Stimulus Announcement
  • 22 days Illegal Streaming Targeted In The 5,000 Page COVID-19 Stimulus Bill
  • 24 days Big Investors Are Dumping Gold For Bitcoin
  • 25 days The Most Exciting And Strange Energy Tech Of The Year
  • 26 days Morgan Stanley Sees Apple As Major Threat To Tesla’s Dominance
  • 27 days U.S. Lawmakers Pass $2.3 Trillion Relief Package
  • 28 days The Super-Rich Are Investing In “Pandemic Passports"
Oilprice.com

Oilprice.com

Writer, OilPrice.com

Information/Articles and Prices on a wide range of commodities: We have assembled a team of experienced writers to provide you with information on Crude Oil,…

Contact Author

  1. Home
  2. News
  3. Breaking News

Tesla Struggles To Meet Production Targets

Tesla

Tesla has failed to ramp up its Model 3 weekly production to its own set target of 6,000 for August, Electrek has learned. However, the company’s overall Model 3 target for the quarter – 50,000 to 55,000 cars – is still within reach, a source from the company said.

During the last week of August, according to the source, Tesla produced a total of 6,400 cars, of which 4,300 are Model 3s. Yet since the start of the quarter, Tesla has manufactured more than 34,700 Model 3s, which means it could be on track to hit its 50,000-55,000 target by the end of September.

The Model 3 production ramp-up has repeatedly put Tesla in the spotlight as it is the company’s flagship affordable model that should turn it into a mainstream rather than boutique carmaker.

After bold production predictions from CEO Elon Musk, a number of delays prevented Tesla from hitting its initial 5,000 weekly target for the Model 3 to June this year, but when it did report that it had hit the target, the market rejoiced.

The Model 3 production woes have also put Musk and the company’s management in the sights of the Securities and Exchange Commission (SEC). The SEC a few months ago launched a probe into the carmaker to see whether Musk and others from the company’s management misled shareholders about the cause of the delays or their extent. Musk first predicted that Tesla would produce 200,000 Model 3s in 2017, but later revised this down to 20,000. In reality Tesla churned out only 2,700 Model 3s.

Meanwhile, reviews of the Model 3 are not all five-star. A recent story in Forbes by consumer tech reviewer Brooke Crothers cited Tesla owners and reviewers as having not so flattering things to say about the fit and finish of the car. However, Crothers adds, this has not prevented them from loving the imperfect cars.

By Irina Slav for Oilprice.com

More Top Reads From Safehaven.com

Back to homepage

Leave a comment

Leave a comment