Tesla reveals numbers of Model 3 deliveries for the fourth quarter of 2017. On Wednesday, Tesla released delivery numbers for the 4th quarter of 2017 counting up to 29,870 vehicles. 1,550 of Model 3 Sedan are also included to these delivery numbers.
Regarding these numbers, Tesla fell short of many expectations and once again the giant pushed back production targets on its highly anticipated Model 3 sedan.
Tesla shares fell roughly two percent in after-hours trading, according to the reports.
While it was releasing the numbers, it claimed to be more focussing on quality and efficiency rather than quantity. It also added
“We expect to have a slightly more gradual ramp through Q1, likely ending the quarter at a weekly rate of about 2,500 Model 3 vehicles,”
Tesla intends to achieve the 5,000 each week milestone by the end of Q2.
last year, the company said it plans to reach a production rate of 5,000 cars per week for the Model 3, but later the giant revised back that target to the end of the first quarter. This time, it expects to reach the target by the end of the 2nd quarter.
The company is of the view that in the last few days of the quarter it could hit a production rate that extrapolates to over 1,000 Model 3’s per week.
Elon Musk previously expressed his expectation for weekly Model 3 production to reach in the thousand by the end of 2017.
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Tesla also delivered 15,200 Model S sedans, alongside 13,120 Model X SUVs.
The numbers released represent a 27 percent increase over the same quarter in 2016 for both the models combined. It shows a 9 percent increase over Q3 2017, previous best quarter of Tesla, the company said.
In 2016, there were no Model 3 deliveries as the car was not in production yet.
Additionally, there were 2,520 Model S and X vehicles and 860 Model 3 vehicles in transit to customers at the end of the quarter, which the company will count as deliveries in Q1 2018, said the company.
Tesla claims to have produced 24,565 vehicles during the quarter, including 2,425 Model 3 cars.
Musk had previously said in October 2017 that the giant Tesla has been “deep in production hell” making the Model 3, its first attempt to cross over from being a niche maker of high-end electric autos to a mass manufacturer or more midpriced vehicles.