Is Tesla, Inc.'s Model 3 Production Finally Ramping Up?
After delivering its first Model 3 units to customers at the end of July, Tesla (NASDAQ: TSLA) totally whiffed on its third-quarter target for Model 3 deliveries, producing far fewer units than management anticipated. Tesla had said it expected to produce about 1,500 Model 3 units in its third quarter, but it actually only built 260 units and delivered just 222.
The slower-than-anticipated ramp-up of Model 3 production ultimately led to a delayed production and delivery schedule, raising concerns about the electric-car maker's ability to meet its ambitious targets. But if a growing number of Model 3 sightings, as well as hundreds of Model 3 vehicles spotted at a delivery center near its factory in California, are any indication of how production is faring, the automaker may finally be ramping up production.
Model 3 units ready for delivery at Tesla's first delivery event in July. Image source: Tesla.
Source: Fool.com
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