Earlier this week, Tesla CEO Elon Musk revealed that production of the most anticipated electric car ever, the Model 3, is now ready to enter production. Although Tesla has reportedly received over 400,000 reservations for the Tesla Model 3, how many will actually be produced this month? Only 30.
Tesla Model 3 delivery starts this month, but it will be a while until most orders are filled.
Tesla will deliver the first 30 Model S sedans to customers on July 28. The Model 3 can’t come soon enough, since Tesla is facing mounting competition from several automakers, who say they will be able to beat Tesla in the near future, like VW. Tesla’s stock has also taken a beating over the last week, since analysts are saying that the Tesla Model S and Model X have already reached their peak sales. Critics are also skeptical if Tesla will be able to meet its goals for the Model 3.
Elon Musk revealed earlier this week that even though Tesla will only deliver 30 Model 3 sedans this month, Tesla hopes to ramp that number up to 100 in August and 1,500 in September. By the end of the year Tesla hopes to have at least 20,000 Model 3 sedans rolling off the production line.
Tesla recently revealed its Q2 numbers, with over 22,000 vehicles delivered, which was a 53 percent increase over the same period last year. In the first half of 2017 Tesla has delivered over 47k units. Tesla says that one of the main issues hurting production is that that the 100 kWh battery packs are in short supply. Since June production of the battery packs has increased, so Tesla is optimistic that production will only improve. Q2 production totaled 25,708 vehicles, bringing first half 2017 production to 51,126.
“Until early June, production averaged about 40% below demand. Once this was resolved, June orders and deliveries were strong, ranking as one of the best in Tesla history.”