Tesla Produces 18,345 Vehicles In Q2, Increase Of 20% From Q1

(RTTNews) - Tesla (TSLA) said that it produced 18,345 vehicles in the second-quarter, an increase of 20% from the first-quarter, and exited the quarter consistently producing just under 2,000 vehicles per week. Due to the steep production ramp, almost half of the quarter's production occurred in the final four weeks.

With continued productivity improvements, Tesla expects output to reach 2,200 vehicles per week in third-quarter and 2,400 vehicles per week in the fourth-quarter. Current order rate trends and backlog support production at those levels. In total, Tesla expects to produce and deliver about 50,000 vehicles during the second half of 2016, approximately equal to all of 2015.

Due to the extreme production ramp in the second-quarter and the high mix of customer-ordered vehicles still on trucks and ships at the end of the quarter, Tesla Q2 deliveries were lower than anticipated at 14,370 vehicles, consisting of 9,745 Model S and 4,625 Model X. In total, 5,150 customer-ordered vehicles were still in transit at the end of the quarter and will be delivered in early Q3. That amount was higher than expected and is more than a third of the number of cars that completed delivery in Q2.