A few hundred-thousand folks who have been waiting impatiently for their preorderedTesla
Model 3 might see this as a bad sign: Tesla, in astock filing with the feds
, reported that at year-end 2016, it had not put a Model 3 beta test car on the road.
That was as of two-plus months ago, of course. There may well be a prototype running around out there at this very moment, built from - and being used to test - factory production parts. In early February, the company said it would beginpilot production of a few Model 3s on Feb. 20
, and presumably a beta car or cars would be chosen from that run. But keep in mind the company reiterated late last month that it intends to beginproducing Model 3s in July
- and that's right around the corner.
The beta-car mention in the annual filing with the Security and Exchange Commission is the second cautionary sign this week, aftera Goldman Sachs analyst said
the company is unlikely to meet its summer production goal and hedowngraded the automaker's stock
The California-based electric-vehicle maker reiterated in itsinvestors note
last week that Model 3 vehicles wouldstart rolling off the production line as soon as July
. Tesla said it would be producing 5,000 Model 3 vehicles a week by the end of the year and will double that pace to an annualized rate of more than a half-million Model 3 vehicles by the end of 2018.
Tesla shares, however, are off by $30 a share after hitting a 52-week high of more than $287 earlier this month, which was a 29-percent jump year over year. Goldman Sachs' set a six-month price target as low as $185.
Tesla has been notorious with missing deadlines, and the the Model 3 is particularly notable because of its advance interest. Within 24 hours ofgoing on sale last spring
, the Model 3 generated about 180,000 pre-orders, and the total is now closer to 400,000 - it's sold out through 2018. Unlike theModel S
, the five-seat Model 3 is priced for the masses at about $35,000, and it offers a single-charge range of 215 miles.Related video:
via Autoblog March 3, 2017 at 04:07AM