Tesla Motors Inc (NASDAQ:TSLA) Model 3 Spotted On The Road On Test Run

Tesla Motors Inc (NASDAQ:TSLA) Model 3 Spotted On The Road On Test Run

Tesla Motors Inc (NASDAQ:TSLA) unveiled its Model 3 earlier this year but the company stated that it was not ready for production. A matte black version of the vehicle was recently seen on the road during a test run.

The matte black test run vehicle had black alloy wheels. There were no significant design differences between the vehicle and the vehicle that the company unveiled in March. The alloy rims were the only significant changes evident. The images of the vehicle only show the back side and a bit of the side profile of the Model 3 and it is thus difficult to see the front side.

Although the Model 3 is highly anticipated, some critics do not believe that it will be as much of a success as expected. One such critic who shares these views is Bob Lutz of CNBC, who believes that the Model 3 will fail. Lutz even made a bet that the price of the Model 3 would not range between $33,000 and $35,000 as the company had promised. He also predicted that it would not be available within the timeframe that the company had promised and that the company would not be able to meet the orders. Production of the Model 3 is expected to commence in 2017.

Lutz stated that he does not have anything against Tesla’s CEO, but he does not like how Elon Musk operates the company. He pointed out that even though the company wants to be a leader in green technology it still has to generate revenue from the automotive business. Lutz has similar sentiments about Tesla with Wall Street analysts who also criticized the company after the recent announcement of plans to acquire SolarCity Corp (NASDAQ:SCTY). Tesla’s shares have been underperforming since Elon Musk made the announcement.