Tesla deliveries arise in third quarter, though Model 3 faces ‘bottlenecks’

(Reuters) – Luxury electric automobile builder Tesla Inc (TSLA.O) pronounced on Monday a deliveries rose 4.5 percent in a third entertain from a prior-year period, though pronounced “production bottlenecks” had left a association behind a designed ramp-up for a new Model 3 mass-market sedan.

Tesla pronounced it delivered 26,150 vehicles in a third quarter, including 14,065 Model S vehicles and 11,865 Model X cars, adult 17.7 percent from a second entertain of this year.

The Palo Alto, California-based association delivered only 220 Model 3 sedans and constructed 260 during a quarter. In July, it began prolongation of a Model 3, that starts during $35,000 – half a starting cost of a Model S.

Tesla had pronounced in a second-quarter financial news that it expects “to grasp a rate of 5,000 Model 3 vehicles per week by a finish of 2017.” The automaker also pronounced it expects during some indicate in 2018 to serve ramp to a rate of “10,000 Model 3 vehicles per week,” and an annual prolongation rate in additional of 500,000 vehicles.

“It is critical to stress that there are no elemental issues with a Model 3 prolongation or supply chain,” Tesla pronounced in a statement. “We know what needs to be bound and we are assured of addressing a production bottleneck issues in a nearby term.”

Tesla pronounced it was on lane to broach around 100,000 S and X models this year.

But Tesla pronounced on Monday that a handful of systems during a Fremont, California, automobile plant and a battery bureau in Reno, Nevada, “have taken longer to activate than expected.”

The automaker pronounced 4,820 Model S and X vehicles were in movement to business during a finish of a third entertain and would be counted with a fourth-quarter figures.

In after-market trading, Tesla shares fell some-more than 1 percent to $337.84, from a shutting cost on Nasdaq of $341.53.

Reporting by Nick Carey in Detroit, additional stating by Bangalore newsroom; modifying by Leslie Adler and G Crosse

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