I have long hesitated to add my two cents on Tesla (NASDAQ:TSLA) given the already exhaustive coverage on Seeking Alpha but yesterday’s release of the company’s Q3 vehicle delivieries and production figures ultimately changed my mind.
As you might know already, Tesla missed Q3 production goals for the company’s all important Model 3 by a large amount:
Q3 production totaled 25,336 vehicles, with 260 of them being Model 3. Model 3 production was less than anticipated due to production bottlenecks. Although the vast majority of manufacturing subsystems at both our California car plant and our Nevada Gigafactory are able to operate at high rate, a handful have taken longer to activate than expected.
It is important to emphasize that there are no fundamental issues with the Model 3 production or supply chain. We understand what needs to be fixed and we are confident of addressing the manufacturing bottleneck issues in the near-term.
Tesla’s CEO, Elon Musk, had previously guided for Q3 production to be above 1,500 vehicles, so, as of this point, the company seems………READ FULL COLUMN