Tesla has disappointed production forecasts for its new Model 3 saloon amid continuing manufacturing troubles.
The latest production and delivery numbers released by Tesla fall well short of already reduced forecasts.
Tesla claimed it had delivered just 1,550 of the new Model 3 car in the fourth quarter of 2017, significantly behind consensus analyst forecasts for 5,200 deliveries.
The production problems are an especially bitter blow as the Model 3 was intended to be Tesla´s first mass-production car.
Priced at $35,000, the all-electric Model 3 has a range of 220 miles.
A slow start for the Model 3, which had originally been expected to reach a production target of 20,000 per month by December, has begun to hit Tesla´s shares.
Tesla´s shares were down 2% in after hours trading on Wednesday and are around 15% below the peak of last summer.
“As we continue to focus on quality and efficiency rather than simply pushing for the highest possible volume in the shortest period of time, we expect to have a slightly more gradual ramp through Q1, likely ending the quarter at a weekly rate of about 2,500 Model 3 vehicles. We intend to achieve the 5,000 per week milestone by the end of Q2,” said Tesla in a statement.