Tesla: Model 3 production growth 'rivals that of Ford Model T'

Elon Musk Telsa CEO Elon Musk Telsa Model X Model X crash Elon Musk twitter April fool stories Indian express trending news

Elon Musk Telsa CEO Elon Musk Telsa Model X Model X crash Elon Musk twitter April fool stories Indian express trending news

Production numbers are finally officially in: The first quarter of the year saw Tesla (NASDAQ:TSLA) produce 34,494 vehicles overall, up 40% from the previous quarter.

Almost a year later, Musk is back to factory living. But at least, it seems, he's headed in the right direction.

"Tesla may have stockpiled batteries amid Fremont downtime, allowing production to be higher in the final week of the first quarter", Johnson wrote.

Last week, Barclays analyst Brian Johnson warned investors to be wary of a brief "burst rate" of Model 3 production that was not sustainable.

Musk, importantly, did not deny the fact stated in the report which claimed that Musk had taken control of Tesla's production. He's back to sleeping at the factory.

Tesla didn't immediately confirm whether the photo was an extension of Musk's April Fools' joke or a hint toward future, Tesla-branded merchandise.

After assessing Tesla's Q1 production numbers as well as the company's cash burn, Bloomberg's Liam Denning wondered if the shareholders' optimism was justified.

"If and as the number continues to climb to something approaching 4,000-5,000, we think Model 3 gross margins should turn profitable, which doesn't indicate it will meet long-term targets, but should prove to be better than the more bearish expectations of the vehicle being EBIT negative, even at scale". The company says it expects to make 2,000 Model 3s over the next week. Now, it says, production should climb fast. In January, this target was pushed back until the end of the second quarter.

Getting those cars into the driveways of the 450,000 people who've preordered them is crucial to the young and not-yet-profitable automaker, which is burning through money.

"Tesla does not require an equity or debt raise this year, apart from standard credit lines", the company said. Model S and X customer vehicles in transit were high. The promised $35,000 "affordable" version of the vehicle should start deliveries later this year, along with other options like dual-motor, all wheel drive.

Apparently, Musk is satisfied that the Model 3 is now ready for a full production ramp, so Field can return to his post as senior engineer.

The Bolt EV is officially the next best-selling all-electric vehicle in the U.S., but the Model S and Model X are likely second and third, which would mean Tesla most likely has the 3 best-selling electric auto models in the US. That marks its most productive quarter, ever. Tesla produced 9,766 Model 3s in Q1, according to Tesla's quarterly production figures reported today, below some analyst expectations but above others. A recall for broken power steering bolts and a fatal crash in California involving Autopilot didn't help, but the biggest factor was a downgrade in the company's bond rating. If you nnoticed, the Model 3 production was a fourfold increase over Q4 of 2017, and the company anticipates that it will continue to increase Model 3 production rates by quarter.

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