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Tesla Model 3 production approached 2700 units in 2017

Tesla Model 3 production approached 2700 units in 2017

The fourth-quarter production totaled 24,565 vehicles, of which 2,425 were Model 3. "As a result of the significant growth in our production rate, we made as many Model 3's since December 9th as we did in the more than four months of Model 3 production up to that point", Tesla wrote.

Tesla shares fell 2 percent to $310.50 in after-hours trading.

"The Model 3 must be right in terms of quality", Krebs said.

Tesla Inc.'s (TSLA) delivery of its new Model 3 electric vehicle fleet fell short of Wall Street's estimates in the fourth quarter and reported production issues have clouded public opinion of the company's newest sedan. While the estimates above - if accurate - are still a far cry from Tesla's early production goals, it at the very least demonstrates that manufacturing issues are being addressed slowly but surely.

Tesla has fallen short of Wall Street expectations by revealing that it delivered just 1550 examples of the Model 3 in the fourth quarter of 2017. "Model 3 deliveries to non-employee customers are now accelerating rapidly, and we're confident our customers will love them".

Tesla said 860 Model 3 vehicles were in transit to customers at the end of the quarter. By postponing production plans, the company may also defer spending, said Jeff Osborne, an analyst at Cowen & Co. who has the equivalent of a sell rating on the shares.

Earlier this week Tesla Inc said that approximately 2 500 Model 3 sedans per week would probably be produced by the end of the first quarter.

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Wall Street appears to be exhausted of Elon Musk overpromising and underdelivering onTesla's new affordable Model 3 electric vehicle.

Tesla has announced that deliveries of its electric vehicles has surpassed the 100,000-unit mark for the first time previous year, according to a report by The Verge.

Suffice it to say, tomorrow's earnings report and accompanying conference call will be extremely illuminating as investors will be keeping a close eye on Model 3 production and deliveries.

If that 5,000 Model 3 cars per week target for June 30th is maintained and then reached (obviously not a certainty) Q2 deliveries could more than double sequentially to 40,000-plus cars and reach 250,000-plus cars for the 2018 year. But the company said it's focusing on quality and plant efficiency, not just meeting volume targets.

Tesla had initially predicted to reach the milestone of 5,000 vehicles per week in December, but in November deferred the target to the end of the first quarter.

Our delivery count should be viewed as slightly conservative, as we only count a vehicle as delivered if it is transferred to the customer and all paperwork is correct.


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