Tesla also said in its news release that 2,425 Model 3s were made in the fourth quarter (793 of those made in the last seven days of the quarter), about ten times as many as were produced in the third quarter at its Fremont, California facility. Specifically, Tesla is now aiming to manufacture 5,000 Model 3 units per week by the end of June. Musk had previously predicted that Model 3 production could be ramped up to 20,000 cars per month by December. Pre-orders for the Model 3 were through the roof after the company announced the launch, reaching over half a million by July 2017-a year after the announcement.
Michelle Krebs, an executive analyst for the auto buying site Autotrader.com, said Tesla would have been better served by not announcing such lofty production targets initially. "The company has now said it is focused on quality versus volume, which is the right focus". "That the Model 3 is moving slowly isn't a surprise".
Despite continued headwinds with the Model 3, Tesla did manage to deliver more of its Model X, Model S, and Model 3 vehicles than in previous quarters. "Ramping up production levels with a flawed product is foolish".
It's a simplified version of what Tesla auto owners get in-vehicle, but it's plenty useful for either giving a broad tea of what taking a road trip in one of Tesla's electric vehicles would look like in practical terms, and it's also a good way to get an understanding of what Tesla's expansion of its Destination Charger and Supercharger network means for potential vehicle ownership.
The Drive editor-at-large Alex Roy and the car's owner, Daniel Zorrilla, drove a Tesla Model 3 across country from Los Angeles to New York City in 50 hours, 16 minutes and 32 seconds, setting another Cannonball Run record for an electric vehicle. Tesla delivered 103,082 cars in 2017, a 36% increase over 2016.
While investors certainly won't look at another Model 3 production delay favorably, they may at the very least find solace in the fact that interest in the Model S and Model X is higher than it's ever been. Yet in the same period, 63,000 were cancelled, Elon Musk said during Tesla's quarterly conference call in July-a figure he saw as insignificant as it happened over 12 months.