Tesla Inc (TSLA) CEO Frets About Delivery Bottlenecks

Tesla Inc (NASDAQ:TSLA) has yer another batch of problems on its plate. According to CEO Elon Musk, the company has followed up its ongoing production issues with troubles on the delivery front.

CNBC shares what the Tesla chief had to say.

Tesla’s Chief Executive Officer Elon Musk acknowledged that the electric carmaker’s problems have now shifted to delivery logistics from production delays, the latest speed bump in its efforts to achieve profitability.

“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 said in a tweet in response to a customer complaint on delivery delay.

The customer had complained that “my delivery has been delayed indefinite,” and shared a picture of a lot of Tesla vehicles that are apparently ready to be delivered to waiting customers. The electric vehicle maker has been working through a countless number of issues on the production front, and it sounds like another wrench has been thrown into things with delivery troubles.

We’ll have to wait and see if the company solves this latest batch of problems quickly or if it lingers in the press for days on end before updates are made.

Tesla Inc shares fell $1.43 (-0.48%) in premarket trading Monday. Year-to-date, TSLA has declined -5.19%, versus a 9.93% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of D (Sell), and is ranked #15 of 24 stocks in the Auto & Vehicle Manufacturers category.