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

Tesla pushes out 9766 Model 3s in Q1 2018, sets ambitious Q2 goal

The next-gen Nissan Leaf is still a mystery, but its U.S. deliveries have so far been extremely limited with only just over 2,500 vehicles so far this year. Estimates are from analysts that the company has a few months more to live, given its cash reserves, before the firm will be forced to tap equity or debt markets once again.

All eyes are on the Model 3 and Tesla says that it has ramped up production significantly.

Tesla sees progress ahead for the mass-market sedan that keeps falling short of targets and said a capital raise won't be required this year, spurring a partial rebound for the electric-car maker's battered shares.

Invest wisely, my friends. Tesla suggested that in its present rate of growth, the Model 3 is the "fastest growth of any automotive company in the modern era" and that it could surpass "even that of Ford and the Model T".




Last week, Field had also sent a mail to its employees announcing Tesla would reallocate employees to focus on Model 3 production. While the firm missed its target of 2,500 Model 3s per week, the 2,020 made over the course of the last seven days was close enough to appease the Street and beat numerous more bearish estimates. Manufacturing of the Model 3 has been underway for nine months now, and despite spending millions on a state-of-the-art production line, Tesla is still using far more human workers per vehicle than most major competitors. Total production rose 40% sequentially, and Model 3 output rose by a factor of four. The story really hinges on the Model 3. Tesla's production forecasts have been over-optimistic and generally lowered and delayed over time.

You can view Tesla's stock in real time here.

Competition isn't far behind, with Jaguar's i-Pace launching in early March at the high end, and the Model 3 facing the Chevrolet Bolt (launched last year), and a large number of similar long-range alternatives (including the Nissan LEAF 230-mile range version, Hyundai Kona EV, Kia Niro EV and Audi eTron) in 2018. 4,060 Model S and X vehicles were on their way to customers at the end of Q1, which was 68% higher than at the end of Q4 2017. The share price has dropped lately, but so has the amount of short interest. Tesla shares opened up as much as 6.9 percent and gained 2.2 percent to $258.11 as of 9:47 a.m., regaining some ground after a 22 percent slump in March. "We like the set-up headed into Q1 deliveries as we believe sentiment is overly negative, and think Tesla may be able to exceed lower expectations", Kallo wrote.

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