Tesla Inc TSLA shares are trading lower by more than 3% Wednesday afternoon on reports the company is delaying deliveries of new Model S and Model X electric vehicles.
A report by Electrek highlights that, “Many Tesla buyers who placed orders early after the new Model S was launched are seeing their estimated delivery dates pushed back by a few months. Most of them had March and April estimated delivery dates, but they have now been pushed to a May-July timeframe.”
An email regarding production ramp-up up for Model S/X by CEO Elon Musk to employees was obtained by Electrek in late February where Musk said: “Model S/X production lines are almost done with the retooling and will be aiming for max production next quarter. There is high demand, so we are soon going to need to go back to two shifts. Please recommend friends for recruiting.”
Still, in early April, production volume concerns may be a problem for the EV giant.
Tesla is trading lower by 3.29% at $668.86 at the time of publication.
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