Tesla Model 3 Numbers Make the Q1 Report Look Hopeful

Tesla had released its quarterly report for Q1 of this year and it doesn’t look too bad. Perhaps it’s because the expectations were relatively low after a really bad week that Tesla just had. The most important thing is that the weekly production rate for the Model 3 has a “2” in front of it. Tesla stated that it had produced over 2,000 Model 3 sedans in the last week and is planning to produce the same number this week as well while getting back to its regular production numbers for the Model S and Model X.

The stock market had reacted positively with the TSLA stock up about 5%. Tesla also had kept its Q2 production goal at 5,000 units per week for the Model 3 which also gives it a lot of hope. In total Tesla made the record number of cars in Q1 with almost 35,000 units produced while about 10,000 of them being Model 3.

Things are looking up but there is still a lot of work to do for Tesla and Elon Musk.