Tesla updates on Q1 deliveries

|By:, SA News Editor

Tesla (NASDAQ:TSLA) reports a production total of 34,494 vehicles in Q1. The tally included 24,728 Model S and Model X vehicles, and 9,766 Model 3s.

The company says that in the past seven days it produced 2,020 Model S vehicles, lower than its 2.5K target set earlier. "In the next seven days, we expect to produce 2,000 Model S and X vehicles and 2,000 Model 3 vehicles," says the company.

Tesla's Q1 deliveries came in at 29,980 vehicles, of which 11,730 were Model S, 10,070 were Model X, and 8,180 were Model 3.

On production issues: "We were able to double the weekly Model 3 production rate during the quarter by rapidly addressing production and supply chain bottlenecks, including several short factory shutdowns to upgrade equipment."

On demand: "Net Model 3 reservations remained stable through Q1."

Shares of Tesla are up 4% about ten minutes after the press release hit.

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