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Tesla Model 3 deliveries expected to come up short; shares fall over 5%

Shares of the company were last down 4.4 percent at $254 in heavy trading, bringing its losses this year to nearly 15 percent


Shares of Tesla Inc fell almost 5 percent on Monday ahead of the electric car maker's announcement of quarterly production numbers for its crucial Model 3 sedan. Shares in Elon Musk's $50-billion dollar venture have been reeling from a triple whammy of probes into a fatal crash in California, concerns about Model 3 production and nerves over its debt load after a credit downgrade by rating agency Moody's. Tesla has committed to build 2,500 Model 3s per week by the end of the quarter as a reassurance to the market that it can meet targets, which it has consistently ...

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First Published: Mon, April 02 2018. 20:41 IST