Tesla Model 3 Delivery Time Reportedly Reduced

Tesla ((TSLA) – Get the report According to a report, the delivery time for the sedan model 3 has been reduced from three to five weeks previously to two to four weeks.

Tesla observer Teslarati reported the change on Wednesday, citing the company’s website where the delivery time was changed on its website on Monday evening.

Electric vehicle major Palo Alto, California could not be immediately reached for comment.

Tesla delivered 499,550 vehicles in 2020. Board chairman Elon Musk said he plans to sell 20 million vehicles by 2030.

According to FactSet, Tesla is expected to release its first quarter results on May 5th. Analysts predict earnings of 71 cents per share on sales of 10.2 billion US dollars.

Automakers in general are grappling with widespread chip shortages that have hindered both production and delivery times for new vehicles.

Last month, Tesla stopped production of its Model 3 electric cars at its assembly plant in Fremont, California for two weeks.

Citing someone familiar with the matter, Bloomberg reported that employees on a Model 3 production line in Fremont were told that their line would be down from February 22 to March 7.

A reason for the production stop was not given, although Tesla said last month it was trying to mitigate the impact of a global semiconductor shortage on its operations.

General Motors is extending plant downtime due to chip shortages

ford ((F.) – Get the report has to struggle with that too. It said it would cut production of its hugely popular F-150 pickup at two plants.

Tesla shares fell 2.1% on the last check to $ 671.75.

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