Tesla has been in the center of some of this year's explosive controversy revolving around its Chief Executive Officer Elon Musk. Despite this cloud of doubt hovering around, Tesla recent announced a highly robust production and delivery targets which the company aims to achieve this third quarter of the year.
Based on recent data, Tesla has achieved more than triple of its year-on-year production and delivery capacity. Additionally, Tesla also improved its total deliveries by more than 100 percent over the span of just last quarter.
Many market experts have pointed out the strong demand for the Tesla Model 3. Many market analysts were also overwhelmed by the fact that the Tesla Model X and Model S outperformed market expectations. Many believe that the demand for said models will continue to rise as Tesla's production capabilities slowly build up to its demand.
In terms of actual figures, Tesla was able to produce 53,239 Model 3s. This represents a quarter-on-quarter increase of 86.3 percent. Additionally, Tesla also decided to shift from the rear-wheel-drive design of the Model 3 assemble to increased dual model 3 production just this quarter.
Tesla's Model X and Model S have a combined 26,903 vehicles produced. A quarter-to-quarter and the year-on-year increase of 8.7 percent and 7.3 percent, respectively. In total, Tesla was able to produce 80,142 vehicles. This represents a 50 percent quarter-on-quarter increase, and an impressive 217 percent year-on-year surge.
In terms of deliveries, Tesla was able to deliver 55,840 Model 3 vehicles. This represents an incredible 203 percent quarter-on-quarter increase. As for the Model X and Model S deliveries, Tesla reported 27,660 vehicles delivers. This represents a quarter-on-quarter and year-on-year surge of 24 and 6.7 percent, respectively. As for total delivers, Tesla was able to deliver 83,500 vehicles. A quarter-to-quarter increase of 105 percent and a year-on-year increase of 220 percent.
On the monetary side of this impressive performance, the Tesla Model 3 has an average selling price of around $60,000. Considering this rather conservative estimate, Tesla is expected to rake in $3.35 billion in revenue for the Model 3 alone. It is important to note that this figure is more than the entire company has generated just last year which posted $2.98 billion. Additionally, Tesla said that the company is still on track to deliver 100,000 Model S and Model X vehicles before the end of the year.
For the combined number of Tesla Model S and Model X vehicles, Tesla is expected to rake in roughly $2.63 billion in revenue just for the third quarter alone. These impressive numbers are expected to cause Tesla shares to surge, many market analysts believe.
