Tesla Deliveries Miss Forecast as `Hubris' Hurts SUV Supply
- Total of 14,820 vehicles comes up short of forecast for 16,000
- Company reaffirms full-year outlook of at least 80,000 autos
Meet Tesla's Stunning New Model 3
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Tesla Motors Inc. shipped fewer electric cars than it forecast in the first quarter, hurt by a new line of sport utility vehicles that was both short on parts and long on technology “hubris.”
The automaker said it sold 14,820 Model S cars and Model X SUVs in the first quarter, short of the 16,000 it had predicted in February. Shares fell in late trading, giving back some of the gains Tesla had made since Thursday by exceeding all expectations on orders for a new, lower-cost car that will be available next year.