Things haven’t been going particularly well for Tesla Motors Inc(NASDAQ:TSLA) shareholders lately. TSLA stock is now down 21% in 2016. To make matters worse, Tesla investors recently got a reality check about the level of competition they can expect from General Motors Company (NYSE:GM) and others in coming years.
TSLA stock owners are hoping that the Model 3 can carry Tesla Motors to the mass market electric car promised land. Unfortunately, GM seems to have beaten TSLA to the punch.
It’s no secret that GM is going to beat Tesla Motors to the market with its Chevy Bolt. GM is expecting to begin shipping the Chevy Bolt by the end of December. Tesla, on the other hand, is not expecting to begin Model 3 shipping until “late 2017.”
However, Tesla Motors has a history of delays, and Car and Driverdoesn’t expect Model 3 shipments until late 2019.
Regardless of whether there will be delays, it appears as if GM will get a one to three year head start on Tesla Motors in the affordable electric car market. The Model 3 better be worth the wait.
Chevy Bolt Is a Threat to TSLA Stock
By May, the Model 3 already had…
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