Tesla Motors Inc (NASDAQ:TSLA) has admitted that it was over-ambitious with its plans for its new Model X, but is now making significant deliveries of the electric car.
The company, headed by the mercurial entrepreneur Elon Musk, has shipped only a little over 3,000 Model X’s since it was unveiled last September due to part shortages and quality control concerns.
Production has picked up recently, however, and totalled 2,400 in the three months to March and should rise to 1,000 per week in the next three months, Musk said.
The billionaire also promised to not make the same mistakes with the Model 3, Tesla’s first mass market car that is due to start production at the end of 2017. Orders for the new model are approaching 300,000.
Including its original Model S, Tesla’s total sales in the three months to March were 14,820 cars.
That comprised 2,400 Model Xs and 12,420 of the Model S, though this combined total was 7% below analyst’s estimates due to the production issues.
Tesla said despite this undershoot, it remains on track to hit its full-year sales target of 80,000 to 90,000 cars.
Shares eased 2% to US$242 at the start of trading Tuesday, valuing the company at just under US$34bn.