With Model 3 on horizon, electric vehicle maker more than doubles deliveries from same time period last year
PALO ALTO, Calif.—Tesla Motors Inc. delivered 24,500 vehicles to customers worldwide in the third-quarter of 2016, up about 70 per cent from a disappointing Q2.
The electric vehicle maker said Oct. 2 it put 15,800 Model S sedans and 8,700 Model X SUVs in driveways over the past three months, more than doubling its deliveries from the same quarter last year.
Tesla also held its production guidance for the second half of the year steady at 50,000 vehicles—a step in the right direction after a bumpy start to 2016. Despite the run-away success of its Model 3 unveiling, the automaker had a tough six months on the production side of its business, facing parts shortages and fewer-than-forecast deliveries.
Having racked up hundreds of thousands of pre-orders for its new, more economical Model 3 sedan, investors are watching the company’s production figures closely. Looking at previous production delays and high costs, not all critics are convinced Tesla can deliver. The Model 3 is expected to enter production by the summer of next year.
Still, not one to take on a single major task at a time, CEO Elon Musk is also moving forward with controversial plans to acquire solar panel maker SolarCity and improve vehicle autonomy with Tesla’s Autopilot system.