Tesla 3Q production numbers up but can they be sustained?
03 October, 2018, 03:44 | Author: Melinda Barton
Shares of Tesla rallied as much as 18 percent Monday as investors welcomed news over the weekend that Elon Musk would continue running the show as the electric-car maker readies to release quarterly production and delivery numbers. It indicates that the company still hasn't approached, at any sustained level over a longer time, chief executive Elon Musk's goal of producing 5,000 of the cars per week. To address this issue, we are accelerating construction of our Shanghai factory, which we expect to be a capital efficient and rapid buildout, using many lessons learned from the Model 3 ramp in North America.
Musk said in a tweet in May that the company would need to sustain production of 5,000 Model 3s per week to make a profit on the critical vehicle and to survive.
Including the Model S and Model X, Tesla produced 80,142 vehicles and delivered 83,500. In Q3, we were able to significantly increase Model S and X deliveries notwithstanding the headwinds we have been facing from the ongoing trade tensions between the United States and China. Our overall target of 100,000 Model S and X deliveries in 2018 remains unchanged. However, it missed its weekly Model 3 production target and said it was facing a 40pc import tariff in China.
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