Tesla records its most productive quarter to date

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

Tesla produces wonderful cars. The company has been infamously slow to deliver on the many pre-orders for its models; between Elon Musk's promises and the reality on the ground often lies a gaping chasm.

"We were able to double the weekly Model 3 production rate during the quarter by rapidly addressing production and supply chain bottlenecks, including several short factory shutdowns to upgrade equipment", Tesla said in a statement.

"The TP reduction is largely a reflection of the on-going delays to the ramp to reach c10k units a week and a time when Model 3 gross margins begin to normalize, with scale". Given the average carmaker executive would sell their grandmother for that many cars, the future seemed assured.

Amid slowdowns in Model 3 production, Tesla has seen its shares drop nearly 18 percent since the beginning of the year.

Although demand for the Model 3 hasn't really been an issue, production of the Model 3 has proven more hard than Tesla had initially anticipated. Following that, it set a target of 2,500 a week by the end of Q1 and then 5,000 a week by the end of Q2. The comment came after Musk took issue with a report published on The Information news website, claiming that he was not in good terms with Doug Field, the company's senior engineering vice president.

We have also created an interactive dashboard analysis which outlines our expectations for Tesla over 2018.

Although the cars may be highly regarded, that doesn't always translate into high regard for the company amongst investment analysts.

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

"As a result, Tesla does not require an equity or debt raise this year, apart from standard credit lines", it said.

This is a fascinating battle between the story (longs) and conventional financial valuation (shorts). Following the release of its results for the quarter, its shares surged 7% in premarket hours, and later eased up 5% around $267 in midday trading.

The outcome of the battle is anyone's guess. Tesla missed the mark, making only 2,020 Model 3s the last week of 2018's first quarter.

Tesla has announced that it produced 34,494 vehicles in the first quarter of this year, which is a 40% increase from Q4 2017 and by far the most productive quarter ever for Tesla.

There was ample fodder for both bulls and bears in the Q1 auto production results released by Tesla yesterday.

Tesla also sought to dispel quality concerns for the Model 3, which GTM reported on last month.

Based on this estimation, it would mean that Tesla delivered between ~4,700 and ~5,900 Model S vehicles and between ~4,000 and ~5,000 Model X vehicles in the United States during the first quarter.

Tesla made just under 9,800 Model 3s from January through March.

In the end, it all comes down to whether Elon can keep all the balls in the air.

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