January 3, 2018 / 9:26 PM / 5 months ago

Tesla delivers 1,550 Model 3s in fourth quarter

Jan 3 (Reuters) - Tesla Inc delivered 1,550 of its new Model 3 electric cars in the fourth quarter, missing Wall Street expectations as it tries to overcome production issues that have hampered the roll out of its most affordable sedan.

Analysts had expected Tesla to deliver 4,100 Model 3 sedans in the fourth quarter, according to financial data and analytics firm FactSet.

Tesla said 860 Model 3 vehicles were in transit to customers at the end of the quarter.

In November, Tesla pushed back its target of producing 5,000 units of Model 3 sedan per week by December to the first quarter of 2018, ending in March.

In the third quarter, Tesla could produce only 260 units of Model 3 sedan and deliver 220 of them as against its target to build more than 1,500 units due to what its Chief Executive Elon Musk called “manufacturing hell”. (Reporting by Alexandria Sage in San Francisco and Supantha Mukherjee in Bengaluru; Editing by Arun Koyyur and Shounak Dasgupta)

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