Tesla set the target of delivering $35,000 version of the Model 3 sedan within the first quarter, anyhow, shipment delays are pushing the share prices down. Delay in the delivery of Model S/X is estimated to cost more than $1 billion shortfalls in revenue. Company’s share already hit 11% downward.
In the quarter, Tesla delivered 50,900 Model 3s, still, falling short of around 58,900 units. The company claimed the delivery of half of its orders by March 21. Still, Long transit times are causing the main trouble in the company’s cash flow. Firm’s annual target is 400000 cars.
Under pressure, Elon Musk is facing an inquiry from U.S. SEC. This also put his position at the board in question. We wonder if its lack of planning or delayed schedules.