Elon Musk wants the delay in the delivery of Model 3 Sedans as a “time shift”.
This “time shift” can now be upto nine months.
“You’ll definitely get your car,” the chief executive officer told CBS in an interview aired Thursday. “It’s a six- to nine-month time shift. That’s literally it, and three of those months have already passed.”
The comments by Musk, 46, were somewhat inconsistent with Tesla’s statement earlier this month, in which the company said Model 3 may exceed the growth rate that Ford Motor Co. exhibited with the Model T. Tesla shares fell as much as 2.4 percent and were down 1.7 percent to $295.85 as of 10:36 a.m. in New York.
Musk has tested some customers’ and investors’ patience by struggling to resolve bottlenecks causing what he’s described as “production hell.” The period of manufacturing woes is lasting about two to three quarters longer than he thought, he said.
Tesla delivered 8,180 Model 3s in the first three months of the year, missing analysts’ average estimate for about 8,800 units. The company built 2,020 of the sedans in the seven days leading up to April 3, below its target for a 2,500-unit rate in the final week of March.
Musk reiterated that he’s again sleeping on the factory floor, as he did in 2016 when Tesla was struggling to produce the Model X crossover.
The billionaire said he’s doing this “not because I think that’s a fun place to sleep. I don’t believe like people should be experiencing hardship while the CEO is like off on vacation.”