Tesla reports record 3Q deliveries, but Model 3 lags

October 2, 2017

Tesla Inc. says it delivered a record number of vehicles in the third quarter even though it made fewer of its new Model 3 sedans than anticipated.

Tesla delivered 26,150 vehicles in the July-September period, up 4.5 percent from the same quarter a year ago. Most were Model S sedans and Model X SUVs. Tesla delivered only 220 Model 3 cars.

Production of the hotly anticipated Model 3—which is half the cost of Tesla's previous models—began in July. Tesla CEO Elon Musk said at the time he hoped to make 1,500 Model 3 sedans in September.

On Monday, Tesla blamed "production bottlenecks" for the slow rollout, but said it's confident it can fix those issues.

Tesla's shares dipped 1 percent to $338.92 in after-hours trading.

Explore further: Tesla reports record deliveries of vehicles in first quarter

Related Stories

Tesla's 4Q net loss doubles

February 10, 2016

Electric car maker Tesla Motors says its net loss more than doubled to $320 million in the fourth quarter, hurt by lower-than-planned production of its new Model X SUV.

Recommended for you

EU copyright law passes key hurdle

June 20, 2018

A highly disputed European copyright law that could force online platforms such as Google and Facebook to pay for links to news content passed a key hurdle in the European Parliament on Wednesday.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.