Tesla Has “Most Productive Quarter” In History, Builds 34,494 Vehicles

Investors have been anxiously awaiting Tesla Model 3 production numbers as rumors have been swirling about problems at the electric automaker.

The speculation has been so widespread that Tesla CEO Elon Musk used April Fool’s Day to joke about the company going bankrupt. That’s obviously not the case but there has been intense scrutiny over the slow rollout of the Model 3 and upcoming debt payments.

Tesla is trying to calm those fears by releasing its first quarter vehicle production and delivery statistics. Jumping into the numbers, Tesla built 34,494 vehicles in its “most productive quarter” in history. Breaking that number down even further shows Tesla made 9,766 Model 3s while the remaining 24,728 units were split between the Model S and Model X. Tesla went on to note it achieved the “fastest growth of any automotive company in the modern era” and claimed “If this rate of growth continues, it will exceed even that of Ford and the Model T.”

While less than a third of the vehicles were Model 3s, Tesla says production of the entry-level EV “increased exponentially, representing a fourfold increase over last quarter.” Production has doubled on a weekly basis and Tesla says this was a result of addressing “production and supply chain bottlenecks, including several short factory shutdowns to upgrade equipment.”

Tesla aims to build 5,000 Model 3s per week

In the past week, the company built 2,020 Model 3s and expects to produce another 2,000 Model 3s this week as well as 2,000 Model S and X vehicles. Tesla says this accomplishment will highlight the fact that Model 3 production exceeds that of the Model S and Model X.

With the problems worked out, Tesla believes production will continue to rapidly increase in the future. As a result, the company expects to be building approximately 5,000 units per week in about three month.

Since Tesla believes it will be able achieve a “good gross margin” and “strong positive operating cash flow,” the company says it won’t need to raise equity or debt this year apart from standard lines of credit.

On the delivery side, Tesla put customers behind the wheel of 29,980 vehicles including 8,180 Model 3s, 11,730 Model S’ and 10,070 Model Xs. The company also notes over 6,000 vehicles are in transit and demand remains strong for the Model S and X despite the launch of the Model 3.

Delays causing order cancellations

The news isn’t entirely rosy as Tesla confirmed almost all Model 3 cancellations have been the result of delays. This includes both production delays and the delay of high-profile options such as all-wheel drive and the standard battery which will finally enable the Model 3 to hit its highly touted $35,000 price tag. Despite this, Tesla says Model 3 reservations have remained stable throughout the first quarter of 2018.

more photos...
  • UGH! Another Tesla Story

    • lousydead

      says the guy who made an entire account for tesla stories.

      • Six_Tymes

        lol. he will enjoy this.
        Tesla Autopilot Nearly Recreates Fatal Crash
        A Tesla owner in Indiana decided to recreate the fatal crash from last month, where the cars autopilot mode drove straight into a K-Rail according to an article from electrek. The video below shows a Model S with the latest autopilot hardware mistakenly treating a right-side land as a left-side lane and pointing the vehicle squarely at a barrier. How is it the radar system of neither of these cars could see a solid, immobile concrete barrier? Fortunately the Indiana driver in the video managed to stop just in time.

  • Nordschleife

    3rd paragraph first line. Tesla is trying to clam those fears. I think you meant calm.

    • Mike Gauthier

      Thanks for the heads up, its been fixed

      • Nordschleife

        No problem.

  • Six_Tymes

    Congrats to Tesla. and Congrats to ONLY Tesla for waking the sleeping giants and forcing them to create ev’s also.


    Congratulations. Now keep it going.

    I’m curious to see how much money they made.

    • Richard Alexander

      Negative (insert large #)

  • Richard Alexander

    Has anyone alerted the fire departments?

Red Bull’s F1 Stars Drift An Aston Martin DB11 At Wet Austin Track

Daniel Ricciardo and Max Verstappen had some fun before their F1 races at the Circuit of the Americas.

One Porsche Cabriolet To Rule Them All: Edo’s 911 Turbo S Has 665 HP

The tuner claims that thanks to the extra muscle, their 911 Turbo S sprints to 62 mph in 2.6 seconds.

Ultra-Low Mileage Volkswagen XL1 Is Tempting – But Not At $150k

This Volkswagen XL1 could fetch up to $150,000 at auction, and that’s pretty much Porsche 911 GT3 money.

Here’s What Driving The Obscure, 740HP Mazzanti Evantra Looks Like

Powered by a GM-sourced V8, it can do 0-62 mph in under 3 seconds and max out at over 224 mph.

2019 Audi R8 Debuts With Sportier Styling And More Powerful V10 Engines

Audi has taken the wraps off the facelifted R8, but the rumored entry-level variant is nowhere to be seen.

Move Over Millennials, 16-24 Year Olds Love Cars And Spend Billions Modifying Them

The top influencer for 16-24 year old accessorizers is Danica Patrick.

How Fast Is The New Audi RS4 Compared To Its Predecessors?

The current RS4 is powered by a 450 PS, twin-turbo V6 and does the 0-62 mph sprint in just 4.1 seconds.

Auto Sales Appear To Be Slowing Down, But Are Still On Track To Surpass 17 Million Units In US

This could become the fourth year in the row that Americans have bought more than 17 million new vehicles.

2019 Jeep Scrambler Could Debut In Los Angeles

The highly anticipated truck could be offered with three different engines.

Roush F-150 Nitemare Looks To Spook The Competition With 650 HP

The supercharged pickup has 255 hp more than the standard Ford F-150.