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Tesla Model 3 Production Hits 2000 Units Per Week

Tesla Model 3 Production Hits 2000 Units Per Week

Analysis from Bloomberg suggests that as recently as the last week of March, Tesla was using about 35 employees for every vehicle coming off the line. 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.

Invest wisely, my friends. Tesla achieved that during a rough quarter for the production ramp up of the Model 3 and it exited the quarter with over 2,000 Model 3 vehicles in transit to customers.

So all (investor) eyes were on the latest announced production figures last night Australian time, which came in at 2,020 Model 3s in the last week (8,180 delivered for the quarter - only 4 times as many). Mounting liquidity pressures and challenges with the Model 3 prompted Moody's Investors Service last week to cut the carmaker's credit rating further into junk status, adding fuel to a selloff of the company's bonds to all-time lows.

On Tuesday, Tesla reported that it had managed to increase production of a crucial new model in the first quarter of 2018, although it remained well short of the company's already lowered target.




What could potentially change the best-selling EV ranking, as Tesla could potentially slow down delivery in the U.S. in order to push its 200,000th total delivery (Model S, Model X, and Model 3 combined) in order to start the phase-out of the federal tax credit in the third quarter instead of the second.

But a series of setbacks have left Tesla far behind schedule in turning out the Model 3 - for which almost 400,000 prospective buyers have already put down $1,000 deposits - and it is taking some extraordinary measures to turn things around. On the other hand, the automaker also confirmed it will not meet the Q1 2018 production target it had set for the popular model. This comes at a perilous time for Tesla amidst a whirlwind of negative news. The share price has dropped lately, but so has the amount of short interest. What took our team five years for S/X, took only nine months for Model 3.

Elon is also increasingly under strain as he gets the Model Y into production, builds the Tesla Semi and the second-generation Roadster, completing the Supercharger network, boring tunnels underground, making solar roof tiles, and launching rockets. At a cost of US$35,000 apiece, the company's debut electric sedan for the mass market promises a 215-mile (346-km) range, a sub-six-second 0-60 miles per hour (96.5 km/h) sprint and Tesla's evolving suite of autonomous driving technologies.


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