• 9 hours Gold Miners Are Having A Stellar Second Half
  • 1 day How 3D Printing Is Turning Each And Every Industry On Its Head
  • 1 day Is The $3.5 Trillion Healthcare Industry About To Get Much More Transparent?
  • 2 days Gamblers Are Betting Big On Trump’s Impeachment
  • 2 days Even Banks Can't Answer Aramco's Trillion Dollar Question
  • 3 days Will Bezos Buy The Seattle Seahawks?
  • 3 days 6 Tech Trends Transforming The Travel Industry
  • 4 days Ousted Uber CEO Cashes Out $500 Million In Stock
  • 4 days Trump Prepares For Another Key Tariff Decision
  • 4 days The Free Money Bubble Is About To Burst
  • 5 days The Crushing Reality Of Poverty In America
  • 5 days Should You Buy Into The World’s Largest IPO?
  • 5 days The Infinite Possibilities Of Cosmic Energy
  • 6 days Analysts Link Walking To Economic Growth
  • 7 days Will Japan Turn Its Back On The Aramco IPO?
  • 8 days Global Debt Soars To $188 Trillion
  • 8 days The World's Largest Gold Miners Are Getting Creative
  • 9 days Twitter: The Saudi Spy Tool To Bring Down Dissidents
  • 9 days Broad Commodity Funds Don’t Give Enough Exposure To Gold
  • 10 days Here We Go Again: Another Giant Telecoms Mega-Merger
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