The third quarter of 2018 has been one hell of a ride for Tesla as the company reported a ramped up production rate which, according to sources, peaked at a record-breaking 80,000 units made within three months, with more than half of the bulk being its newest car offering, the Model 3.
Tesla's all-electric Model 3 remains one of the most coveted and best-selling cars not only in the United States but the world over.
Market analysts and industry watchers alike feared for the electric vehicle manufacturer to come up short with its promise to deliver the goods to its ardent patrons. However, the focus has quickly shifted from how many cars Tesla can make to how fast it can deliver.
According to an earlier report from Business Times, after production dilemma, Tesla faced logistic issues which it implemented by opting to adopt an unconventional strategy - building its own car carriers.
At the end of Q3, the automaker was able to produce a record number of electric vehicles of around 80,000 units, the report from CNBC said. Apparently, this figure amounts to nearly as much as the company produced in the last two quarters combined.
Out of 80,000, 66 percent or 53,000 brand new units are Model 3 sedans, Reuters said. In August this year, Tesla announced its production goal to fall between 50,000 and 50,000 units within the quarter.
The midsize electric sedan is Tesla's answer to the increasing demand for electric vehicles. Elon Musk envisioned the Model 3 as a way for the carmaker to become one of the most prolific EV manufacturers.
According to Bloomberg, Tesla was able to make 94,192 Model 3 sedans in total since the start of its production in July 2017 up to the end of September 2018.
Although falling short of Musk's initial production target of 5,000 cars per week, Tesla managed to pump out an average of 4,112 Model 3s a week, the business news outlet added. However, Bloomberg noted that the rate is still subject to change given Tesla's continuously intensifying efforts to produce this much number of cars for its avid customers.
Amidst Controversies
Tesla Inc. has been in a wild quarter this year with the company facing controversies over its founder's plan to make it private, which failed, and ended up with a settlement with the US Securities and Exchange Commission delimiting Musk's control of the firm.
As indicated in the terms of the SEC settlement, Musk and the company will pay fines of USD$20 million each. Moreover, Musk will step down as chairman of Tesla and won't return to the post for at least three years.
