Tesla shares open lower as Musk tweets of delivery hell

Tesla shares opened in the red Monday, after CEO Musk tweeted the electric car maker was currently in 'delivery logistics hell'.

Tesla shares open lower as Musk tweets of delivery hell

Tesla shares have opened lower in the US Monday, after founder and CEO Elon Musk tweeted Sunday, that the company has moved from production hell, to delivery logistics hell. The firm is struggling to deliver the large number of orders for its electric cars, on time.

By 1445 BST, Tesla shares were 1.06% lower at $292.06. The stock has been a little mixed, but mainly lower, in recent weeks.

Tesla struggles with delivery logistics

Highlighting that it takes more than the right idea to become a successful company, Tesla CEO Musk has shared that the latest problems the company is facing has moved from production, to the delivery logistics.

The company took its time in achieving the output levels it promised, as it ramped up production throughout this year. And now, while it appears to have solved most of those problems, another one has arisen – delivery logistics.

In response to a tweet from someone who has bought a Tesla Model 3 but has yet to receive after numerous delivery date delays, Musk apologised and blamed delivery logistics hell for the delay.

“Sorry, we’ve gone from production hell to delivery logistics hell, but this problem is far more tractable. We’re making rapid progress. Should be solved shortly,” Musk tweeted Sunday.

That tweet came after one last week in which he warned of delivery delays:

“Due to a large increase in vehicle delivery volume in North America, Tesla customers may experience longer response times. Resolving this is our top priority,” Musk tweeted on September 12th.

Tesla collision repairs to be brought in-house

Separately, Musk said Sunday that he plans to bring Tesla repairs in-house, after blaming outside workshops for lengthy delays on Tesla repairs.

“Tesla is bringing most collision repairs in-house, as outside firms take weeks to months for repairs, driving Tesla owners (and us) crazy,” Musk tweeted.

“Exciting to see some Tesla collision repair operations already completing within 24 hrs. Aiming for same day soon, then under an hour,” he stated on Twitter.

Top Equities Brokers

0 Brokers added for comparison:
Clear all