It worked. Last week, the Palo Alto electric car maker finally hit its production goal of assembling 5,000 Model 3 cars in a week. And on Monday, Tesla said it produced 28,578 Model 3 vehicles in the second quarter — almost three times as many as it made the previous quarter — and delivered 18,440 Model 3s.
But the “incredible job” that Tesla Chief Executive Elon Musk credited to his workers in an email Sunday, and the “entirely new solutions” they employed to reach the goal, left many industry analysts wondering about the sustainability of the production push.
It also wasn’t enough to match most analysts’ expectations. On average, eight analysts estimated that Tesla would deliver about 26,121 Model 3s, according to Bloomberg. (Tesla said that about 11,000 Model 3 vehicles were “in transit” to customers at the end of last quarter and are expected to be delivered early this quarter.)
Investor skepticism drove shares of Tesla down $7.88, or 2.3 percent, to $335.07.
