The automaker announced that it delivered 14,820 luxury vehicles in the first quarter of 2016, falling short of the expected 16,000 deliveries. The tally includes 12,420 Model S sedans and 2,400 Model X SUVs.
The stock price for Tesla Motors dropped about 3% in after-hours trading, after several days of gains tied to the frenzy of the Model 3 release.
The electric vehicle maker has taken about 300,000 reservations on its Model 3 sedan, which will have a starting price of about $35,000, since pre-sales began Thursday.
Chief Executive Elon Musk tweeted Saturday that the company would need to build a plant in Europe to keep up with demand. He added that the company would focus on accelerating the manufacturing process for the new vehicle.
The company acknowledged first-quarter deliveries of the S and X were slowed by shortages of parts caused by "Tesla's hubris." The Palo Alto automaker added too much new technology to its luxury SUV, it said in a statement, and neither the company nor its suppliers could manufacture enough key parts. The parts shortages were limited to a half dozen items in a vehicle with more than 8,000 pieces.
Tesla said it would fix the root problems before the Model 3 launch. The first, lower-priced sedans are expected to be delivered in late 2017.
The company expects to deliver between 80,000 and 90,000 vehicles this year.