Tesla misses sales targets for 2016
New York - Electric car manufacturer Telsa missed its ambitioussales target for the year, the company said Tuesday after marketsclosed.
Telsa sold 76,230 vehicles in 2016. The firm owned by techbillionaire Elon Musk reaffirmed as late as October its goal to bring80,000 cars to customers.
The company delivered 22,200 cars in the last quarter of 2016, downfrom 24,500 the quarter before. The installation of new auto-pilothardware put the brakes somewhat on production, Tesla said.
The numbers are a setback for Musk and his ambitious plans. Tesla'sshare price fell 1.7 per cent after markets closed.
The tech entrepreneur has set production goals of 500,000 cars a yearby 2018, and 1 million vehicles a year by 2020. In 2016 the companymanufactured 83,922 cars, a 64 per cent increase over the previousyear.
Customer interest in Tesla's electric car has not abated. In the lastquarter demand was especially high, the firm said. Orders for theluxury sedan Model S and the SUV Model X were up 52 per cent over theyear before, and 24 per cent over the previous quarter.