Tesla produced a record 86,555 vehicles in Q4 2018

Tesla is still ramping up Model 3 production

Electric vehicle manufacturer Tesla produced a total of 86,555 vehicles in Q4 2018.

The number represents a 7.7 percent increase over the 80,142 vehicles the company produced in the previous three-month period, and a new record for Tesla.

Specifically, the company produced 63,150 Model 3 sedans. Heading into the quarter, financial analytics firm FactSet had projected the company would manufacturer 64,900 Model 3s.

That said, the company built 53,239 Model 3s last quarter, so it’s still improving on its base output.

Tesla still hasn’t shared if it’s any closer to its goal of building a low-cost Model 3.

Since CEO Elon Musk announced the Model 3, Tesla has aimed to build a Model 3 that costs $35,000 USD (roughly, $45,843 CAD). Currently, the cheapest Model 3 costs $60,100 CAD before incentives and savings.

However, the company did announce it’s cutting the cost of its vehicles, including the Model 3, by $2,000 USD to offset a recent reduction

Source: Reuters