Tesla Deliveries Miss Global Target in Q2
Economy, Auto

Tesla Deliveries Miss Global Target in Q2

Tesla Motors missed its vehicle delivery target for the second consecutive quarter and is on track to fall short of its annual target, suggesting the US electric carmaker is still wrestling with production issues as it looks to transform itself into a mainstream, high-volume manufacturer.
Led by Silicon Valley star Elon Musk, Tesla delivered 14,370 vehicles during the second quarter, missing its target of 17,000 vehicles, it said in a statement on Sunday.
The company blamed an unusually large number of vehicles still in transit to customers and an "extreme" production ramp that led to almost half of the quarter's vehicles being made in the last four weeks, Reuters reported.
Tesla said it expects to deliver about 50,000 vehicles during the second half of the year. Having delivered only 29,190 vehicles in the first two quarters, even if it hits that target, it would leave the company just short of the low end of its earlier expectation of 80,000 to 90,000 deliveries this year.
Some analysts have questioned Tesla's ability to smoothly and quickly transition to higher-volume production, given the rocky start for its Model X. The technology-heavy sport utility vehicle has faced problems, including parts shortages and quality issues, such as non-fastening doors.
The delivery target miss is the latest unwelcome development for Musk. Tesla's offer to buy solar installation firm SolarCity Corp last month got a mixed reception from investors.
Last week, US safety regulators announced an investigation into a fatal crash in which the driver of a Tesla Model S car was using its Autopilot feature, the first such accident that has been made public.
The US National Highway Traffic Safety Administration is now investigating 25,000 Model S sedans that are equipped with the Autopilot system.
Tesla has been gearing up production of its first mass-market car, called the Model 3 sedan, after receiving 373,000 reservations for the vehicle, which will start at $35,000 before tax breaks. It is set to go into production in late 2017.
Musk said in May that his company is aiming to build a total of 500,000 all-electric vehicles in 2018 and that its 2020 volume target was close to 1 million vehicles.

Short URL : http://goo.gl/KS1GAm
  1. http://goo.gl/3lrRkx
  • http://goo.gl/Hw9bMG
  • http://goo.gl/XesFip
  • http://goo.gl/SQ2hGl
  • http://goo.gl/ilChJs

You can also read ...

Audi Names New Leader After CEO Arrested
Audi has tapped its top sales executive to lead the company...
Islamic Bonds Worth $25m Issued for  Locomotive Manufacturing
Some 1.05 trillion rials ($25 million) worth of Islamic bonds...
Big Benefits of a German ‘Iran Bank’
Since US President Donald Trump pulled out of the nuclear...
Hyundai Elantra
After local media reported that the South Korean carmaker...
Structural Reforms in Banks  to Help Ensure Fiscal Stability
The second and final day of the Conference on Monetary and...
Easy-Open Can Lid Imports  at $22 Million
Close to 3,610 tons of aluminum easy-open can lids worth $22...
Tehran Stock Exchange Benchmark Gains 13 Percent in Q1 - Report
Iran's financial markets had no shortage of drama in the first...
Kerman to Host 2 Int’l Mining Expos Next Week
The Sixth International Exhibition of Mining, Mineral...