Tesla has over 3,000 Model 3s left in U.S. inventory: Electrek

Technology

FILE PHOTO: A row of new Tesla Model 3 electric vehicles is seen at a parking lot in Richmond, California, U.S. June 22, 2018. Picture taken June 22, 2018. REUTERS/Stephen Lam

(Reuters) – Tesla Inc had over 3,000 Model 3s left in inventory in the United States as of Sunday, 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 Chief Executive Officer Elon Musk reminding them on Twitter here on Saturday that the benefit would drop to half beginning 2019.

The report bit.ly/2R5Ii1G, 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.

Shares of the company fell nearly 2 percent after the report. Tesla was not immediately available for comment.

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

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

Reporting by Sonam Rai in Bengaluru; Editing by Sriraj Kalluvila and Arun Koyyur

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