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Tesla’s First-Quarter Sales Miss Target
Tesla Motors Inc. says its sales grew 50% to 14,800 units in the first quarter of 2016. But results fell short of its 16,000-unit target because of snags in in-house component output for its new Model X electric crossover vehicle.
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Tesla Motors Inc. says its sales grew 50% to 14,800 units in the first quarter of 2016. But results fell short of its 16,000-unit target because of snags in in-house component output for its new Model X electric crossover vehicle.
The company attributes the shortfall to its decision to add "far too much new technology” in the inagural version of the vehicle. The car's gullwing rear doors have proven especially troublesome.
Tesla says it is now assembling 750 Model Xs per day, although its Web site says significant deliveries of the seven-passenger crossover aren’t likely until the second half of the year. The EV maker reiterates its vow to meet its previous forecast of building at least 80,000 of the $81,000-$117,000 vehicles this year.
Tesla sold 50,000 vehicles, almost all of them Model S electric sedans, in 2015.
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