During the fourth quarter of 2017, Tesla exceeded its delivery expectations of its flagship models, and claimed to have substantially improved its production capacity of the Model 3.
During the fourth quarter of 2017, Tesla delivered 29,870 units of its electric vehicles, improving its historic delivery brands of its luxury sedan, Model S, and its SUV, Model X.
“This was, once again, our best quarter in history for the combined deliveries of Model S and Model X, and represents an increase of 27% compared to the fourth quarter of 2016 and 9% compared to the third quarter of 2017, our better previous quarter, “the company said in a statement.
The document also details that of the 24,565 vehicles produced during the fourth quarter, 2,425 corresponded to the Model 3, its most affordable model, whose manufacturing caused a slowdown in the lines of Model S and Model X, which had been anticipated by Elon Musk , CEO of the company, during his call with investors to present the results of the third quarter.
However, the figure seems not to have liked Wall Street, which erased 1.8% of the value of the shares of the firm in operations after the closing.
During the fourth quarter, we made great progress in attention to the bottleneck, with our production rate increasing significantly at the end of the quarter. In the last seven days of the quarter we produced 793 Model 3’s, and in the last few days we reached a production rate that can be extrapolated to more than 1,000 Model 3’s per week, “the company said in the document.
The company added that it expects to close the first quarter of 2018 with a weekly production of 2,500 units of the Model 3 per week and reach the 5,000 Model 3 manufactured per week in the second quarter of the year.
Alex Russell was born and raised in Detroit. Alex has worked as a freelance journalist for nearly a decade and written for The Detroit Free Press, Ann Arbor News and Sports Illustrated. As a journalist for NewsMaxi, Alex mostly covers community events and human interest stories.