Model 3 June Production Report Suggests Meaningful Step Forward
By Gene Munster of Loup Ventures
- Today, Reuters reported that Tesla nearly hit its goal of producing 5,000 Model 3s in the final week of the June quarter.
- Tesla reportedly hit the 5,000 per week mark at 5 AM today (7/1/18), just hours after the deadline. This implies Tesla built 4,850 Model 3s in the final week of June, compared to 2,000 per week exiting the March quarter.
- Loup Ventures had estimated production between 4,300-4,900 in the final week of the quarter.
- We expect the company to exit the Sept. quarter producing 6,000 Model 3s per week.
- Today’s report is a meaningful step forward for Tesla’s long-term profitability and sustainability.
- We view Tesla as the company best positioned to capitalize on the shifts to EV, autonomy, and sustainable energy.
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