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Report: Tesla May Fall Short Of Record Model 3 Production Goal

Report: Tesla May Fall Short Of Record Model 3 Production Goal

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk has previously told employees they need to consistently produce 1,000 Model 3 sedans per day for the rest of the quarter to set a new record for vehicle deliveries.

"According to documents that describe the daily output rate for one segment of Model 3 production, output reached at least 1,000 units in a day just once in the weeks following Musk's May 22 email," reports Business Insider's Mark Matousek.

"Daily output rates for one part of the production process do not necessarily correspond with final production numbers on a given day because vehicles must go through other steps that may operate at different speeds. But output for one production segment gives a sense of the upper limit for the entire production process," according to the report.

The estimated record is around 90,700 vehicles, which was set during the fourth quarter of 2018.

Tesla shares traded around $225.24 at time of publication. The stock is up about 10% over the last month, but down about 32% year to date.

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