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Tesla Stock Dips After Company Suggests Model 3 Will Be Delayed To Mid-2018

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One of the great promises of Elon Musk is that the "electric car for everyone", the Model 3, was supposed to become available some time in 2017. As Elon Musk said at the official unveilingof the Tesla Model 3 in California, Elon Musk was bullish about the date the car would go on sale. "I do feel fairly confident that it will be next year," Musk said, referring to a promised delivery date of late 2017.

 

However, that now appears unrealistic and as Kyle Russell spotted on Twitter, on the company's website, Tesla has inserted the disclaimer that "Production begins late 2017. Delivery estimate for new reservations is mid 2018 or later."

 

Looks like Model 3 reservers shouldn’t hold their breath for late 2017 — sneaky update to Tesla’s site

 

— Kyle Russell (@kylebrussell)

 

As the rumor picked up speed, so did the gravitational attraction toward Tesla stock, which has swooned from a intraday highs.

 

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However, moments later, in an e-mail to StreetInsider.com, Tesla said the update doesn’t reflect any change in its plans and they still plan to begin Model 3 deliveries in 2017.

 

"For your background, today's website update doesn’t reflect any change in our plans," a Tesla spokesperson said. "We still plan to begin Model 3 deliveries in 2017, and we adjusted the date on our marketing page to reflect more accurate timing for new/future reservation holders."

 

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