Tesla’s (NASDAQ:TSLA) CEO says, Cheaper M-3 To Ship in December, Company says, No
- Tesla (NASDAQ:TSLA) CEO Elon Musk suggested the $35,000 base priced M-3 sedan would arrive by the end of this year, but customers won’t be able to take delivery of it before February 2019, according to Tesla’s website.
- On the M-3 order page, the EV maker says versions of the vehicle with a standard battery will become available in 4 to 6 months.
- Currently, the least expensive version of the M-3 starts at $45,000 and has a mid-range battery that Tesla says offers an EPA-estimated 260-mile range.
A Tesla representative said M-3 sales and production are increasing at a rapid pace and declined to comment on the disparity between Mr Musk’s timeline and the timeline listed on the Tesla website.
The M-3 was designed to broaden Tesla’s customer base beyond the luxury segment and has generated significant demand since Tesla began taking reservations for it in March 2016.
The EV has been praised by some reviewers, but the M-3 has also been subject to reports of inconsistent quality, production and delivery delays.
Tesla initially struggled to hit its production targets for the EV due in part to excessive automation at its Fremont, California, factory.
In May 2016, Mr. Musk estimated the company would make 100,000 to 200,000 M-3’s during 2-H of Y 2017, Tesla made only 2,685 Model 3 vehicles in Y 2017.
At the end of June, Tesla hit its long-delayed goal of making 5,000 M-3 Vs in 1 week and, at the beginning of this month, the EV maker reported that it exceeded Wall Street expectations by delivering 55,840 M-3 vehicles during Q-3.
Tesla announced Monday that I will report Q-3 earnings early, that being after the close on Wednesday, 24 October.
|HeffX-LTN Analysis for TSLA:||Overall||Short||Intermediate||Long|
|Neutral (0.06)||Neutral (0.22)||Neutral (0.18)||Neutral (-0.21)|