Tesla holds 3,000 Model 3s in U.S. inventory at end of 2018

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Tesla had over 3,000 Model 3s left in inventory in the United States on the last two days of 2018, automotive news website Electrek reported on Monday, citing people familiar with the matter.

The electric-car maker has been urging buyers to make use of the federal tax credit, with CEO Elon Musk tweeting that the benefit would drop to half beginning 2019. The following day, Musk tweeted a list of Tesla stores open until midnight.

Screenshot from Twitter

The report, citing sources, said while the automaker is expected to deliver some vehicles on the last day of the year, it is not possible for Tesla to go through the whole inventory.

Tesla shares were down nearly two percent in late-afternoon trading.

The company produced 5,300 Model 3s in the last week of its third quarter ended Sept. 30.

Tesla did not respond to a request for comment on the report.

The company had earlier said it was “doing everything” to ensure those who ordered a vehicle as late as December 20 could take deliveries by December 31, and Musk has promised to reimburse customers if delivery delays cause them to miss out on a significant tax credit.

Earlier this year, Tesla said orders placed by October 15 would be eligible for the full tax credit of 7,500 U.S. dollars and that customers would receive their cars by the end of the year.

Source(s): Reuters