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Tesla Model 3 Deliveries Expected to Come Up Short; Shares Fall

  • Company targeted making 2,500 of the sedans a week by March
  • Fatality, credit downgrade and recall among negative headlines
Bloomberg business news
Bloomberg’s Ramy Inocencio reports on Tesla’s turmoil.(Source: Bloomberg)
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With pressure escalating during one of the worst weeks in its almost 15-year-history, Tesla Inc. raced to manufacture and deliver as many Model 3 sedans as it could to report to rattled investors. The carmaker still probably came up short.

Tesla’s Fremont, California, delivery hub was packed with people Saturday evening as the last hours of the quarter drew to a close. Red couches and tall white tables were set up outside, a DJ played music and a truck selling Vietnamese food was on hand. Behind the scenes, a company that’s struggled to figure out how to mass manufacture cars had implored workers to get production on track and disprove their doubters.