Tesla shares are sliding ahead of Thursday’s opening bell, down 5.44% at $300, after the company reported fourth-quarter Model 3 deliveries that missed estimates by a mile.
The electric-car maker said it delivered 1,550 Model 3 sedans in the fourth quarter, a bit more than half of the 2,917 that Wall Street analysts were expecting. Tesla produced 2,425 sedans during the period.
That number fell well short of Elon Musk’s promise of producing 20,000 Model 3 sedans per month beginning in December. “Looks like we can reach 20,000 Model 3 cars per month in Dec,” Musk tweeted back in January.