Tesla Model 3 production was slightly down this week, but the automaker’s overall quarterly production is still trending strong at close to 25,000 vehicles produced during the first month.
Last quarter, we closely tracked Tesla’s production on what turned out to be the company’s biggest quarter ever, with just over 80,000 vehicles produced, including over 53,000 Model 3s.
We are still keeping a close eye on Tesla’s production this quarter as the automaker is expected to ramp Model 3 production by the end of the year.
According to a reliable source familiar with the company’s production, Tesla has produced about 6,500 vehicles, including ~4,400 Model 3’s.
That’s down from 6,800 cars and 4,800 Model 3’s during the previous week.
It now adds up to about 16,600 Model 3’s and just over 24,800 vehicles total for this quarter as of early this morning.
Tesla is still able to maintain an average of 1,000 vehicles per day so far this quarter, but it was trending down this week.
The company didn’t update its production rate goal for the short-term, but CEO Elon Musk said that Tesla can increase Model 3 production to 7,000 units with “minimal new investments.”
The goal is still to produce 10,000 Model 3 vehicles per week at Tesla’s Fremont factory.
While it is trending down a little this week, I don’t think it’s anything to worry about at this point.
It’s undoubtedly the most stable production that we have seen from Tesla in a long time and it’s the best start of any quarter ever for the company.
We could speculate about why production is slightly down, like the possibility of tooling for the new Mid-Range pack, but I don’t have a good lead on that right now.
The bad sign is that we have yet to see a sign of a Model 3 production ramp in Q4 with only 2 months left.
As I previously said, I’d like to see Model 3 production at around 7,000 units per week by the end of the year in order to support international expansions, which is apparently starting early next year.