Tesla produces 9,766 M3 in Q1 2018.

[AviP]

Tesla stock soars after company releases production data

Tesla Inc. TSLA, +1.96% said Tuesday that it produced 34,494 vehicles in the first quarter, up 40% from a year ago, including 9,766 Model 3 cars. The company said it was able to double the weekly Model 3 production rate during the first quarter by addressing supply bottlenecks and taking time to upgrade equipment. Tesla manufactured 2,020 in the past seven days and plans to produce 2,000 more in the next week, as well as a 2,000 Model S and Model X cars. Tesla said it's still targeting a weekly production run rate of 5,000 Model 3 units in three months. "As a result, Tesla does not require an equity or debt raise this year, apart from standard credit lines," the company said in its filing. Deliveries for the quarter totaled 29,980 vehicles, which came in below the FactSet consensus estimate for 38,000 units. Deliveries of all three Tesla vehicles fell short of Wall Street's expectations, including the 8,180 Model 3 deliveries. Analysts had been predicting 12,300 deliveries. Tesla shares are up 6.5% in premarket trading but down 15.4% over the past 12 months. The S&P 500SPX, +0.00% is up 9.5% in that time.

 

[GoneCrazy]

Well less than 1,000/wk average production for the quarter, but this should not come as a surprise. It has been estimated they were well below this rate for a long time, and then there was the 5 day late Feb production stoppage. The 2,000 number for the final week is nice, but again, not a huge surprise because we anticipated them to go all out for the last week to get the highest possible production rate.

What is, hopefully, positive news is that the 2,000 production rate will continue on forward. Unless it's just a TWO week burst, then back to reality. That would be depressing. Let's not be depressed.

Also, the bit about no additional equity raises will be big if true.

 

[ℬête Noire]

The 2,000 number for the final week is nice, but again, not a huge surprise because we anticipated them to go all out for the last week to get the highest possible production rate.

I was pleasantly surprised by it being even that high. It's not even an "extrapolated" number, like the end of December was. An actual 2K vehicles, is a bit better than I expected for "burst". My "this would be a good number to hit" for burst was 1800, sustained through a full week was 1500.

The latter part though is the big thing, I agree. If they hit 2000 this week, too, that puts me into "I'm going have one in my driveway before Aug" territory. Which indeed has me very happy.

 

[Chris350]

and mine wasn't one of them.... Bummer.....

 

[CuriousSunbird]

and mine wasn't one of them.... Bummer.....

Donn't worry. Elon has said there should be "zero concern" about reaching a 10,000 per week run rate within 2018, so yours should be soon.

 

[ℬête Noire]

Donn't worry. Elon has said there should be "zero concern" about reaching a 10,000 per week run rate within 2018, so yours should be soon.

Elon pictured below, making the statement:

P.S. I don't worry either, because I don't expect it to happen. The key to be free and clear of concerns, lowered expectations!