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January 3, 2018 10:00 pm

Analysts Expect Tesla To Miss Its First 2018 Model 3 Production Target

schwit1 shares a report from U.S. News & World Report: In October, Tesla reported that it produced 220 Model 3 vehicles in the third quarter. CEO Elon Musk had previously said the company would produce more than 1,600 Model 3s by September. Loup Ventures analyst Gene Munster isn't the only analyst to doubt Tesla's fourth-quarter Model 3 production. KeyBanc analyst Brad Erickson reduced his fourth-quarter Model 3 production target by two-thirds, cutting it from 15,000 to only 5,000. According to Munster, Tesla investors may need to wait several more quarters for the Model 3 story to play out. "We predict a breakout year for the Model 3 in 2019 which means, until then, other elements like solid Model S and X production numbers, increasing energy deployments like the South Australia installation, and future vehicles (Roadster, Semi, Model Y, and pickup truck) will stoke investor optimism," he says. schwit1 adds: "Elon Musk promised Tesla would produce 500,000 Model 3 sedans in 2018 and has accepted refundable $1,000 deposits on nearly that many. At current production rates, it will be years before pre-orders are filled. The Model 3's good will and good reviews won't matter much if Tesla can't ramp up production, which even bulls like Munster believes is running at least a year late."

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