Rise in Third Quarter Deliveries of Tesla, but Model 3 Encounters "Bottleneck"

Tesla Model 3 Production Is 84% Lower Than What Elon Musk Promised

However, it is quite bad to see just 260 Model 3 units being produced, considering how this new vehicle is supposed to be easier to manufacture than previous models. First, the company delivered more vehicles than it produced for the first time in nearly two years.

While the Model 3 production may be an issue, at least the Model S and Model X are doing well.

But a number of analysts from some of the major brokerages who have backed the stock through a 60 percent rise this year said the shortfalls were normal for a fledgling auto company and offered an opportunity to buy the stock. While Tesla has yet to build 100,000 vehicles in an entire year, the South African-born entrepreneur had forecast the number would hit 500,000 next year, about 80% of those BEVs being the Model 3. The Model 3 manufacturing ramp up will be incredibly hard even if Tesla hits all of its production goals. In July, it began production of the Model 3, which starts at $35,000 - half the starting price of the Model S.

Musk delivered only 220 Model 3s during the fourth quarter, all of which went exclusively to employees and investors and fall well below the 1,300 that analysts surveyed by FactSet expected on average.

Palestinian prime minister rolls into Gaza amid reconciliation hopes
The Palestinian prime minister is making a rare trip to Gaza as part of efforts to end a rift between Fatah and Hamas, which controls the territory.

Tesla has sky-high expectations for the release of the all-electric Model 3 sedan, including benchmarks set by the company's CEO, Elon Musk.

As it is, the average for the past two months is about 26 per week. These are lofty figures, and in the end, the company founded by #Elon Musk, was unable to meet even its Q3 production quota, to their detriment at the stock market. In July, Tesla Chief Executive Elon Musk warned that "production hell" was ahead for the Model 3. Tesla said in a statement, "We understand what needs to be fixed and we are confident of addressing the manufacturing bottleneck issues in the near term".

On the importance of this point, Tesla is spot-on.

The company reports there were 4,820 Model S and Model X vehicles in transit at the end of the quarter (and 40 Model 3 newbies, apparently).

Saturday Night Live Calls Trump A 'Cheap Cracker' Over Puerto Rico Response
Meanwhile water and food rations are improving, and telecommunications have been restored to about 30 per cent of the island. Will hopefully be able to stop at the U.S.

Total orders for Tesla's Model 3, which CEO Elon Musk hopes makes Tesla into a auto for the every-man, tumbled to 455,000 from a high of 518,000, Musk told reporters.

Living up to that just got way harder.

Liam Denning is a Bloomberg Gadfly columnist covering energy, mining and commodities. It didn't help that Tesla has gotten yet another poor review from Wall Street. Before that, he wrote for the Financial Times' Lex column.

Air France flight to Los Angeles diverted after engine damage
The airline said it was making arrangements to send the plane's passengers to their destination of Los Angeles. Air France has immediately sent personnel from Montreal and NY on site to take care of the passengers.

Related news:

Hot News

isis-killer-beheading-video-story-top Facebook reportedly tests facial recognition to recover your account
Oct 04, 2017 - 00:08
Facebook said the feature is optional and only available on devices that users have already used to log into their accounts. If the feature proves to be reliable and can not be fooled by hackers , it may be made available to wider audience.

isis-killer-beheading-video-story-top Concerns grow after Congress allows CHIP to expire
Oct 04, 2017 - 00:07
The Senate drafted a standalone CHIP reauthorization bill in early September, but the House has yet to come up with its bill. Members of Congress had discussed voting to renew the program but did not do so in time for the new fiscal year.

isis-killer-beheading-video-story-top Britain's oldest airline flies into administration
Oct 04, 2017 - 00:06
All affected customers were told to check decicated website monarch.caa.co.uk for more information . We'd also like to hear from people who work for Monarch and what the administration means for them.

isis-killer-beheading-video-story-top Uber CEO meets with TfL after licence withdrawal
Oct 04, 2017 - 00:06
The app-based taxi firm will not be able to pick up passengers in the city beyond the expiry of its current licence. London represents one of the firm's biggest markets, with more than 40,000 drivers and 3.5 million customers.

isis-killer-beheading-video-story-top Trump slams Puerto Rico: "They want everything to be done for them"
Oct 03, 2017 - 02:18
On Saturday morning , she responded to the president's tweet by saying nothing can distract from the priority of saving lives. But the mayor of San Juan, Puerto Rico's capital, hit back at stories about how well the relief efforts are going.

isis-killer-beheading-video-story-top San Francisco Giants pitcher Matt Cain will retire after one last start
Oct 03, 2017 - 02:07
Cueto had a rocky outing on the last day of the season, allowing four runs and 12 hits in five innings. A three-time champion as a Giant, Cain was pulled with a 1-0 lead after his five innings.

isis-killer-beheading-video-story-top Mandatory evacuation for Ocracoke visitors in advance of Maria
Oct 03, 2017 - 00:39
Tropical Storm and Storm Surge Watches have been issued for portions of North Carolina's coast and the Outer Banks. There is a storm surge watch from Cape Lookout to Duck including the sound side of the Outer banks.

isis-killer-beheading-video-story-top 'We're not Nazis, you've shown that by electing me' - new Ukip leader
Oct 03, 2017 - 00:32
At the conference a year ago, members elected Diane James to succeed Farage, who stepped down after the Brexit referendum. A former soldier, Bolton is a one-time Lib Dem member who has worked as an European Union common defence strategist.

isis-killer-beheading-video-story-top Attorney General Doesn't Want OJ Simpson To Settle In Sunshine State
Oct 02, 2017 - 00:14
The parole board that agreed his release cited his record of good behavior, and his lack of any previous convictions. Simpson will reportedly be living in Las Vegas and eventually will move to Florida to be closer to his children.

isis-killer-beheading-video-story-top Trump says homeland chief 'working very hard'
Oct 02, 2017 - 00:11
That default divisiveness makes Trump different than every person who has held the office before him. As NPR's Greg Allen and Marisa Penaloza have reported , many hospitals are still shut down.

isis-killer-beheading-video-story-top The Rams beat the Cowboys. Jeff Fisher's ghost is exorcised
Oct 02, 2017 - 00:09
But that's what happened to Maliek Collins , who had one of his best games of his career in a win over the Cardinals Monday night. This Sunday's game against the Rams marks one of only two games that the Cowboys are scheduled to play this season in the 1 p.m.

isis-killer-beheading-video-story-top Donald Trump stirs tempest before Puerto Rico visit
Oct 02, 2017 - 00:05
That comes after he accused the San Juan mayor of poor leadership and being unable to get workers to help Puerto Rico recover. Duke was speaking to reporters on the tarmac in San Juan before boarding a helicopter for an aerial look at the devastation.

isis-killer-beheading-video-story-top Gov. signs executive order mobilizing resources for Puerto Rico
Oct 01, 2017 - 00:24
In another tweet, he blamed "Fake News CNN and NBC" for going out of their way "to disparage our great First responders". Mr Trump has said that Hurricane Maria "totally destroyed" the island and left it with "no electric, roads, phones etc".

isis-killer-beheading-video-story-top Diodati invites Prince Harry to Niagara Falls
Oct 01, 2017 - 00:22
Harry, 33, and Meghan , 36, attended a wheelchair tennis game and were pictured laughing and joking as engagement rumours fly. Their first meeting was in the USA in 2015 and then again when they had dinner together at Kensington Palace in April 2016.

isis-killer-beheading-video-story-top Kushner registered in New York as a female voter
Oct 01, 2017 - 00:20
In addition, Politico reported that Ivanka Trump and four other Trump aides used their personal email for official business, including economic adviser Gary Cohn.