Tesla Finally Reaches Production Target

Published on: 02 Jul, 2018

Tesla Inc (NASDAQ: TSLA) announced Monday that it has finally reached its desired production milestone, in the last seven days of Q2, Tesla produced 5,031 Model 3 and 1,913 Model S and X vehicles. Tesla also raised its production target for the Model 3, its first mass-produced electric car. The company said it expects to make 6,000 per week by late next month.

According to Tesla's official press release, "Q2 production totaled 53,339 vehicles, a 55% increase from Q1, making it the most productive quarter in Tesla history by far. For the first time, Model 3 production (28,578) exceeded combined Model S and X production (24,761), and we produced almost three times the amount of Model 3s than we did in Q1. Our Model 3 weekly production rate also more than doubled during the quarter, and we did so without compromising quality."

Data provided by Tesla, shows that Model 3 reservations, at the end of Q2 still stood at roughly 420,000, and has now delivered 28,386 Model 3 vehicles to date.


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Danny Abramov

Email: danny@financialinsiders.com


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