Tesla factory 5000 cars a week6/4/2023 Wall Street investors, who have pushed the company's stock beyond US$340 per share, are growing impatient with the losses. The company has never posted a full-year profit, and it burnt through more than US$1 billion in cash in the first quarter. Model 3 sales are critical to Tesla's future. Tesla also said it delivered 10,930 Model S sedans and 11,370 Model X SUVs during the quarter. The company hasn't said when it will start producing the US$35,000 version, which comes only in black unless a buyer pays more. Some have been holding out for their cars since March of 2016 when the company first started taking orders.Īnother 11,166 Model 3s are en route to be delivered to owners, the company said.Ĭurrently, the cheapest Model 3 that can be ordered costs around US$49,000, and they can run upwards of US$70,000. On Monday, the company said it delivered 18,440 Model 3s during the quarter to help satisfy a waiting list that now is around 420,000. Last summer, when the first Model 3s began rolling off the assembly line, Musk promised to build 5,000 per week by December and 10,000 per week in 2018.īut he also warned at the time that Tesla was entering at least six months of “manufacturing hell” as it tried to hit the targets. I don’t think producing 5,000 once is anything to get excited about until it’s repeatable.” “Consistently producing 5,000 per week with outstanding quality is another. “Reaching it is one thing,” Sullivan said. Tesla critics now wonder if the company can keep up the 5,000-per-week rate, and they question whether the company can build high-quality vehicles underneath the heavy-duty tent on the site of what once was a joint-venture factory for General Motors and Toyota.ĭave Sullivan, manager of product analysis at the market research firm AutoPacific Inc and a former manufacturing manager for Ford Motor Company, wasn’t impressed. Hitting the 5,000 mark “was not easy but it was definitely worth it,” the statement said. Sign up for The Gleaner’s morning and evening newsletters. “The last 12 months were some of the most difficult in Tesla’s history,” the company’s statement said. The company now says it expects to hit 6,000 Model 3s per week by late August, with its Model 3 assembly line under the plant’s roof reaching 5,000 on its own. To hit the 5,000-per-week mark, Tesla had to erect a fourth assembly line under a tent outside its Fremont, California, factory, and Musk had to spend nights in the plant working out bugs with automation and other problems. The company has had only two profitable quarters in its 15-year history. The company badly needs cash from the compact cars to deliver on CEO Elon Musk’s promise to post a net profit and positive cash flow in the third and fourth quarters. The Model 3, which starts at US$35,000, is the key to turning Tesla from a niche maker of expensive electric cars to a profitable, mass-market automaker. Tesla reported making 28,578 Model 3s from April through June, according to its quarterly production release on Monday. But the company still only managed to crank out an average of 2,198 per week for the quarter. TESLA INC made 5,031 lower-priced Model 3 electric cars during the last week of June, surpassing its often-missed goal of 5,000 per week.
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