Tesla delivers 100000 cars in 2017

06 January, 2018, 01:42 | Author: Rosa Wright
  • Tesla now expects to achieve a weekly production rate of around 2,500 Model 3 vehicles by the end of the first quarter

He projects the company will burn through $4.2 billion this year and assumes the company will raise $2.5 billion in an equity offering, likely during the third quarter. It then intends to achieve the previously predicted 5,000-per-week milestone by the end of the second quarter.

Tesla shares fell as much as 3.6 per cent to US$305.68, the biggest intraday drop in five weeks.

The Model 3 is critical to Tesla's long-term success, as it is the most affordable of its cars to date and is the only one capable of transforming the niche automaker to a mass producer amid a sea of rivals entering the nascent electric vehicle market.

By nearly every metric, Tesla massively missed its super-aggressive production target of its Model 3 for the final quarter of 2017.

The prices we've seen range from a premium $196/day here in Orange County CA where Teslas are quite popular, to a silly $990/day in the SF Bay Area where Teslas are even more popular.

The Drive editor Alex Roy used Tesla's new Model 3 to drive from Redondo Beach, California to Manhattan, New York in 50 hours, 16 minutes, and 32 seconds.

As of September 30th, Tesla's cash and cash equivalents were estimated at $3.5 billion.

But the company has so far has pushed back its target of making 5,000 Model 3's per week twice.

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The more gradual ramp is so the company can "focus on quality and efficiency rather than simply pushing for the highest possible volume in the shortest period of time", according to the release.

Despite continued headwinds with the Model 3, Tesla did manage to deliver more of its Model X, Model S, and Model 3 vehicles than in previous quarters.

Only 1,550 Model 3s were delivered in 2017's fourth quarter, the company said in an online statement Wednesday.

Tesla reported deliveries of 1,550 Model 3s in the final three months of the year, trailing analysts' average estimate for about 2,900 units in a Bloomberg News survey. Pre-orders for the Model 3 were through the roof after the company announced the launch, reaching over half a million by July 2017-a year after the announcement.

"Perhaps the issues that have significantly hobbled the Model 3 ramp really can be fixed in a cost-effective manner and shortly cycled past (although this did not happen in 4Q)", Brinkman said.

"Tesla is always a quarter away, and now you have to wait six months to get your report card on your investment thesis", Osborne said by phone Wednesday.

The company said another 2,520 Model S and X vehicles and 860 Model 3 vehicles were in transit to customers at the end of the quarter. During the last week of December, the company said, it made 793 Model 3s.

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