Tesla misses Model 3 production targets

Electric carmaker Tesla Inc has again fallen short of production goals for its new Model 3 sedan. The Palo Alto, California-based company made 2,425 Model 3s in the fourth quarter. That’s only a fraction of the 20,000 per month that CEO Elon Musk promised last summer when the car first went into production. The company exceeded its overall sales targets, with 101,312 Model S sedans and Model X SUVs bought in 2017, up 33 percent over 2016. Tesla at one point had more than 500,000 potential buyers on the waiting list for the Model 3.