Tesla reported strong production numbers for the first three months of 2017 delivering more than 25,000 cars and SUV’s.
Analysts forecasted that Tesla would produce somewhere around 24,000 units in January, February, and March combined but the final production numbers are in. According to the NY Times on their report on Tesla’s latest numbers they dropped earlier today (Apr. 2, 2017) they beat all the analysts predictions by more than a thousand units. 13,450 Tesla Model S cars and 11,550 Model X SUV’s were delivered equaling roughly that 25,000 figure. Tesla also mentioned that they weren’t even done with all the deliveries with over 4,600 vehicles being delivered by quarter’s end. Tesla is no longer that boutique car company but is making serious strides as a manufacturer at scale.
All of this news comes on the heels of Musk announcing his bold plan for Tesla Model 3 production that his yet to make its first delivery. Musk plans to build 1,000 Tesla Model 3’s in July that would slowly ratchet up to 10,000 Model 3’s a month by the end of 2018. The first round of Tesla Model 3’s would go to employees as a sort of Beta round of testing with bugs being fixed before production ready batches are made for consumers.
In addition we reported that there are rumors floating around that Elon Musk is set to announce the much anticipated Tesla Model Y later this week. The Tesla Model Y will be built on the same infrastructure as the Tesla Model 3 as an all-electric crossover SUV.
Tesla’s stock has responded well to all the recent news lately despite some reports about quality issues and the lack thereof. Tesla stock as of this writing is sitting at 278.30 a share with its 5-year high being 279.68. Many market analysts will be curious to see just how high Tesla stock can get and how well the market will react when opening bell rings tomorrow morning.
It wasn’t that long ago that 25,000 units used to be the annual output of Tesla. Now Tesla is on the cusp of realizing a full lineup of vehicles while putting out respectable production numbers. It seems like the sky’s the limit for Musk. All he has to do is deliver.
