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Oil Prices Fall As OPEC+ Refuses To Act

Oil Prices Fall As OPEC+ Refuses To Act

Oil prices fell on Friday…

Tesla Yet To Hit 6,000 Model 3 Weekly Target

Elon Musk

Tesla has failed to ramp up its Model 3 weekly production to its own set target of 6,000 for August, Electrek has learned. However, the company’s overall Model 3 target for the quarter – 50,000 to 55,000 cars – is still within reach, a source from the company said.

During the last week of August, according to the source, Tesla produced a total of 6,400 cars, of which 4,300 are Model 3s. Yet since the start of the quarter, Tesla has manufactured more than 34,700 Model 3s, which means it could be on track to hit its 50,000-55,000 target by the end of September.

The Model 3 production ramp-up has repeatedly put Tesla in the spotlight as it is the company’s flagship affordable model that should turn it into a mainstream rather than boutique carmaker.

After bold production predictions from CEO Elon Musk, a number of delays prevented Tesla from hitting its initial 5,000 weekly target for the Model 3 to June this year, but when it did report that it had hit the target, the market rejoiced.

The Model 3 production woes have also put Musk and the company’s management in the sights of the Securities and Exchange Commission (SEC). The SEC a few months ago launched a probe into the carmaker to see whether Musk and others from the company’s management misled shareholders about the cause of the delays or their extent. Musk first predicted that Tesla would produce 200,000 Model 3s in 2017, but later revised this down to 20,000. In reality Tesla churned out only 2,700 Model 3s.

Meanwhile, reviews of the Model 3 are not all five-star. A recent story in Forbes by consumer tech reviewer Brooke Crothers cited Tesla owners and reviewers as having not so flattering things to say about the fit and finish of the car. However, Crothers adds, this has not prevented them from loving the imperfect cars.

By Irina Slav for Oilprice.com

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  • Insider on September 04 2018 said:
    Ms. Slav,

    Why has Tesla failed to produce 6,000 Model 3 each week?

    Has a robot failed to make correct welds?
    Has the paint supplier failed to provide the right paint color?
    Has a tire sequence supplier failed to sequence correctly or deliver on time?

    Even in the go-go late 1990's at a major US based OEM, a weekly production over 4,000 was rare, even running 2 shifts.

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