Tesla (TSLA) shares were falling after-hours as the company disclosed that it delivered just 1,550 Model 3 electric vehicles in the fourth quarter, far below the 4,100 vehicles that was anticipated by Wall Street, Reuters said.
The company also said it produced 2,425 Model 3 cars in the three-month period and pushed back its ambitious goal of producing 5,000 Model 3 cars a week until the end of the second quarter.
The report suggests Tesla is still having trouble ramping up production of the less expensive electric vehicle that much of the company's future growth is tied to.
Tesla shares were dropping by 1.6% to $312 as of 5:30 p.m. ET, after falling by 1% during the regular trading session.
In November Tesla CEO Elon Musk pushed back his forecast that the company would be making 5,000 Model 3 vehicles a week to the end of the first quarter because of continuing bottlenecks at the company's huge battery manufacturing plant in Nevada.
The company said it had seen a sharp increase in daily production at the end of December to over 1,000 Model 3's per week.
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