Tesla posts better than expected revenue in Q2

Aug 05, 2017, 00:20
Tesla posts better than expected revenue in Q2

In the wake of last week's Tesla Model 3 hand-off event, it's no surprise to see a torrent of buzz around the new EV and a surge in consumer interest. Tesla has said it expects to build around 500,000 vehicles in 2018 to meet demand for the Model 3.

Now you should have so many questions about the Tesla model 3 so, reading the following infographic from Loud Noisy Car, you should be able to know everything you need to know about the Tesla Model 3. Tesla expects to produce 1,500 Model 3 vehicles in the upcoming third quarter, and reach 5,000 vehicles produced per week by the end of this year.

The company must consider its options quickly if it intends on satisfying customers' demands for the Model 3, a vehicle that has fascinated people because of its $35,000 price tag but that also lacks the range many motorists prefer. Deliveries of the Model S and Model X vehicles rose 53% to just over 22,000.

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"Those cancellations occurred over the course of more than a year", Musk said.

While Musk noted that total orders for the Model 3 - which is positioned as the company's most affordable auto yet with a starting price of $36,000 - dropped from 518,000 to 455,000, those cancellations were over the course of the year and so there's nothing to worry about. The entry-level Model 3 should begin shipping in the US sometime in November, Tesla said in its letter to investors today.

Tesla Model 3 in pictures Mon, January 30, 2017 The Tesla Model 3, which is set to be released in 2018, in pictures. But Tesla reported second-quarter revenue of $2.79 billion and an adjusted loss per share of $1.33.

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During Wednesday's Q2 earnings call, Tesla CEO Elon Musk stated that their should be "zero concern" that "Tesla will achieve a 10,000/week unit production rate by the end of next year.", solidifying Tesla's past production expectations. Most of its money is being spent on ramping up production.

Elon Musk said on Tesla's quarterly earnings call that around 63,000 early reservations for the Model 3 were cancelled since the pre-order portal opened, according to Recode.

The newest-model Tesla has a starting price of $35,000, compared with the company's Model S, which starts at $68,000, and the Model X, which starts at $82,500.

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