Previously, Tesla was hoping to reach the 5,000/per week rate by the end of March.
On the back of these revelations, shares in Tesla fell by 1.7 per cent to $312 in after-market trading.
The ever-changing Model 3 deadline is not a unique development for Tesla.
Musk has often described an "S-curve" for Tesla's production plan in which small batches of vehicles lead to rapid expansion of volume and then level off, a trajectory followed by the Model S and Model X. Delays were expected, but the Model 3 must increase production on a unprecedented scale with little room for error. The electric auto maker said in an online statement Wednesday it expects to produce 2,500 a week by the end of March. That's on top of the 220 Model 3s the company delivered in the third quarter, for a total of just 1,770 since the first deliveries in late July. It had about $3.5 billion in cash and cash equivalents as of September 30.
"Given that TSLA received over 400k Model 3 reservations with essentially no marketing, we believe potential demand for the vehicle is likely underestimated, and think TSLA could significantly increase demand through its own advertising in the future", Baird Equity Research analyst Ben Kallo said.
The company said it will "continue to focus on quality and efficiency rather than simply pushing the highest possible production in the shortest period of time". So was Jonas rending garments when Tesla announced that instead of making 5,000 Model 3s every week, the company made 1,550 apparently bespoke Model 3s in three months?
Tesla has fallen short of Wall Street expectations by revealing that it delivered just 1550 examples of the Model 3 in the fourth quarter of 2017.
2-hour computer outage at U.S. customs causes delays nationwide
US Customs and Border Protection said on its Twitter page that there was "no indication the disruption was malicious in nature". While Customs said its systems were restored by about 10 p.m., airports warned passengers to expect delays tonight.
According to CNN Money, the 23 analysts, offering 12-month forecasts regarding Tesla Inc's stock price, have a median target of $310.00, with a high estimate of $500.00 and a low estimate of $155.00.
The company has said more than 400,000 people have put down $1,000 refundable deposits on the Model 3.
Slow production could affect the number of Model 3 buyers who receive the $7,500 federal electric vehicle tax credit, and it is unclear whether this may drive away buyers, said Cowen analyst Jeffrey Osborne.
"Tesla has really lofty goals for automation", Tasha Keeney, an analyst at ARK Investment Management, which holds Tesla shares, said in a phone interview.
That pace of production is still below that of many carmakers.
In a letter sent out by the Californian carmaker, it says it delivered 1,550 of its new vehicle in the final three months of 2017 - 2,550 fewer than predicted.