Tesla misses Q1 delivery forecast, blames parts shortages
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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.
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