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Tesla ($TSLA) Q3 2017 Vehicle Deliveries and Production — EV Stock News

Tesla ($TSLA) Q3 2017 Vehicle Deliveries and Production — EV Stock News

In July, Tesla Chief Executive Elon Musk warned that "production hell" was ahead for Tesla's new and long-anticipated Model 3. That price tag placed it well within the range of the average American new-car buyer.

The automaker also said it expects at some point in 2018 to further ramp to a rate of "10,000 Model 3 vehicles per week", and an annual production rate in excess of 500,000 vehicles.

In a note to investors Monday, Tesla blamed "production bottlenecks" but offered no details. "It is important to emphasize that there are no fundamental issues with the Model 3 production or supply chain", Tesla wrote.

Tesla has just announced its quarterly production figures and while the Model S and Model X are selling better than ever, the Model 3 is getting off to a slower start than expected.

Public demand for its electric vehicles has never been a problem for Tesla Inc (NASDAQ:TSLA). Tesla, however, highlighted deliveries of its more time-tested models-in Q3, the company delivered 25,930 model S and X vehicles, which is a record for the electric vehicle startup.

September was supposed to be the Model 3's big month.

Tesla critics saw little to crow about.

The company's 60 percent share rise and inability to turn a profit during this past year has roiled traditional automakers and created greater risk for all manufacturers, a report from Nordea Global Climate and Environmental Fund notes.

Morgan Stanley and much of Wall Street don't see a lag for one month as hurting Tesla's financial liquidity or access to capital. Initial deliveries of the Model 3 have primarily been to employees.

Tesla reported that they expect to deliver around 100,000 Model S and Model X vehicles in the full year of 2017. Tesla disclaims any obligation to update this information. These forward-looking statements are based on management's current expectations. Tesla said those vehicles would be counted in the third quarter.

© 2017 Los Angeles Times under contract with NewsEdge/Acquire Media.

But he sees the stock as expensive. No worries. There are plenty of car safety features that are available, affordably, for ALL cars, not just new ones.

Reuters/Tesla Motors/HandoutTesla Model 3 owners with reservations are being told to switch to Model S.