Tesla Has Over 3,000 Model 3s Left in U.S. Inventory

Tesla Inc had over 3,000 Model 3s left in inventory in the United States, automotive news website Electrek reported, citing people familiar with the matter. The electric-car maker has been urging buyers to make use of the federal tax credit, with Chief Executive Officer Elon Musk reminding them on Twitter that the benefit would drop to half beginning 2019.

The report said while the automaker is expected to deliver some vehicles on the last day of the year, it is not possible for Tesla to go through the whole inventory. Shares of the company, which produced 5,300 Model 3s in the last week of its third quarter ended Sept. 30, were down nearly 2 percent in late-afternoon trading.

Tesla did not respond to a request for comment on the report. The company had earlier said it was "doing everything" to ensure those who ordered a vehicle as late as Dec. 20 could take deliveries by Dec. 31 and Musk has promised to reimburse customers if delivery delays cause them to miss out on a significant tax credit.

Earlier this year, Tesla said orders placed by Oct. 15 would be eligible for the full tax credit of $7,500 and that customers would receive their cars by the end of the year.