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Tesla has only produced 260 Model 3s so far

Production rates haven't increased as quickly as Tesla expected they would.

Bloomberg via Getty Images

Tesla delivered its first batch of Model 3s to their owners at the end of July and production was supposed to steadily ramp up during the following months. Elon Musk predicted that around 100 cars would be produced in August, 1,500 in September and 20,000 in December, with 10,000 cars per week being the production target in 2018. But so far that plan has failed. In a recap on third quarter vehicle production and deliveries, Tesla said that only 260 Model 3s were produced and just 220 were delivered.

The company says that production bottlenecks are to blame and while most manufacturing systems at its California plant and Nevada Gigafactory are working at rapid rates, some systems have taken longer to get going than it initially expected. "It is important to emphasize that there are no fundamental issues with the Model 3 production or supply chain," said Tesla in a statement. "We understand what needs to be fixed and we are confident of addressing the manufacturing bottleneck issues in the near-term."

Third quarter Model S and X delivery rates were the best of any quarter yet and year-end delivery projections for those models are set to exceed expectations by several thousand. However, Tesla didn't say when its Model 3 production would get back on track or how it planned on fixing the production bottleneck issues, but there are a lot of Model 3 owners hoping the company figures it out soon.