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Tesla has problems with model 3, according to an badyst.
In a note to investors Monday, RBC badyst Joseph Spak said that he is now expecting Tesla to send 261,000 model 3 cars this year, up from 268,000 previously, according to CNBC, who got a copy of the note. Spak, however, added that RBC would maintain its forecast of 347,500 units for Model 3 in 2020.
The Tesla Model 3 is widely regarded as one of the most important cars sold by the company. Significantly cheaper than the Model S and other high-end Tesla cars, the Model 3 is designed to bring Tesla to everyone. This alone prompted industry badysts and observers to closely monitor the number of units shipped by the company.
For its part, Tesla maintained that model 3 shipments are solid. The company also unveiled a crossover sport utility vehicle (SUV) earlier this month, called Model Y, which will also target an affordable price.
In the note to investors, Spak said that Tesla had handled during the first quarter in China of a "customs issue" that could have hurt the number of its shipments. It has also lowered its model 3 shipping forecast for the first quarter from 57,000 units worldwide to 52,500 units.
In the end, Spak reduced his 12-month price target on Tesla shares from $ 245 to $ 210. Tesla shares closed Friday at $ 264.53.
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