Tesla has ramped up its presence on the vehicle scene in recent months, zooming past both General Motors and Ford in market value in April, with the firm's share price more than doubling between December and late June.
According to latest reports, electric car-maker giant Tesla Inc (NASDAQ:TSLA) on Monday announced that production deficits slowed down sales during the second quarter, following Chief Executive Elon Musk indicated even tighter timetable for the firm's pushy plans to produce its new Model 3 sedans.
Model 3 is a major step for Tesla, and will be priced around $35,000.
The very first unit to come off the production line had been given the designation "SN1", meaning serial number 1, and as it went through for final inspection Elon Musk tweeted, "Production unit 1 of Model 3 is now built and going through final checkout". After that it gradually will ramp up production to some 20,000 cars a month by December.
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Customers who put a deposit down now will not receive the vehicle before the end of 2018, he said at the company's annual shareholder conference in June.
In the United States market, the Model 3 is priced at 35,000 dollars (approximately Rs 22.58 lakh).
"Once this was resolved, June orders and deliveries were strong, ranking as one of the best in Tesla history", the company said in a statement. Tesla hopes to soon be producing as many as half a million units of the vehicle per year, and the first 30 examples will be delivered to their eager buyers on July 28. Musk also stated that the Model 3 is a much simpler vehicle compared to other models.
A day later, Tesla disappointed investors last week with its second quarter delivery numbers, saying production was hit by a shortfall of batteries.
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