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.