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The statistic highlights Tesla’s Production Rate by Model of variant 3 and S/X from Q1 FY 2016 to the latest quarter.
Tesla Inc. is founded in July 2003 by a group of engineers who wanted to spread the use of electric vehicles as it can be better, quicker, and more fun to drive than standard petrol cars today. As of 2020, Tesla sells Model S, Model 3, Model X, and Model Y cars. Today, Tesla hasn’t stopped itself to only all-electric vehicles but also infinitely scaled up to clean energy generation and storage products. In July 2010, Tesla Motors launched its IPO on NASDAQ, the first American car company to do so after the Ford Motor Company. After a considerable time in the market, Tesla ranked as the world’s best-selling plug-in as well as the best-selling battery electric passenger car manufacturer.
Tesla’s primary revenue is driven by two prime models – Tesla S/X and Tesla 3. Tesla S/X established a good market since 2015, whereas Tesla 3 launched in 2017 and made a record-breaking sale in subsequent years.
In Q1, Tesla marked a production record of 15,510 vehicles, up by 10% from Q4. Production of Model S, 12,851 vehicles met estimations, but Model S/X production of 2,659 cars was insufficient to meet the projections. In Q2, the company made total production of 18,345 vehicles constituted a new record, up by 18% from Q1. Till the end of Q4, the Model 3 program is on track and has started production in July and steadily aiming to incline production to exceed 5,000 vehicles per week at some point in the fourth quarter. But overall production for Model S/X dropped a little to 24,882 from last quarter.
Vehicle development of Model 3 is nearly complete as the company approached the start of production. Production in Q1 increased to 25.42K, up by 64% YoY. In Q3, Tesla only produced 260 Model 3 cars and 25.08K Model S/X cars. Production of Model S/X dropped naturally to increase the production of Model 3. Also, Tesla is planning the Model 3 production process to be vastly more automated than the production process of Model S, Model X, on the market today. Recent acquisitions of advanced automation companies are helping us increase Model 3 production rates more effectively. Some of the manufacturing resources reallocated towards manufacturing of Model 3 production, which limited the production of Model S and Model X to 22,137 vehicles
In Q1, Tesla produced 24,728 Model S and X and 9,766 Model 3 vehicles, successfully hitting the target of 5,000 Model 3 in a week and aims to touch 10,000-unit weekly rate. Demand for Model X and Model S vehicles did not remain much strong, lead to a slight increase in production to 24.73K QoQ. Production steeped, and in Q3, Tesla is aiming to bring portions of Model 3 production to China to progressively increase the level of localization through manufacturing and local sourcing. Model 3’s production rate gradually improved through Q4, and Model S and X production efficiencies enhanced by 13.64% YoY.
Tesla produced roughly 63,000 Model 3 vehicles in Q1, up by 3% from the previous quarter because of changes to the production process for the introduction of new variants of Model 3. The production rate of Model 3 gradually improved throughout the Q2, breaking a monthly record in May and then again in June, while Model S and Model X production continues to run on a single shift schedule, and produced over 14,500 vehicles in Q2. In Q4, Tesla produced 17,933 Model S and X and 86,958 Model 3 cars.
Since Model Y is taking up its space in the market, Model 3 production is increasing at a meager rate and might expect a downfall in the future. Whereas Model S/X production dropped down significantly in recent quarters and might see the fall in future also.
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