Tesla misses Q1 delivery forecast, blames parts shortages

San Francisco

TESLA Motors Inc shipped 14,820 vehicles in the first quarter, less than the 16,000 it had forecast in February. Tesla's shares fell in after-market trading, giving back some of the gains that followed surprisingly strong orders for the company's new, less-expensive electric car.

Tesla blamed the delivery count on parts shortages for the Model X sport utility vehicle and "hubris in adding far too much technology to the Model X in version 1", the company said in a statement on Monday, in which it reaffirmed plans to deliver 80,000 to 90,000 vehicles this year. The first-quarter deliveries, up 48 per cent from a year earlier, included 2,400 units of the Model X, which became available in September.