Tesla Motors (TSLA) CEO Elon Musk said that he still believes the target of 1 million cars by 2020 is relevant. He confirmed his earlier estimate of the growth during the conference call this week.
The company announced last year figures, which stated that the company is
targeting a weekly Model 3 production rate of 2,500 by the end of Q1 and 5,000 by the end of Q2. Tesla is also focused on achieving its target of 25% gross margin for Model 3 after company´s production stabilizes at 5,000 cars per week.
In the company press release Tesla said it will be the best manufacturer of automotive industry. The Model 3 reservations remained stable during the last quarter of the 2017, but in recent weeks the growth has continued. Combined Model S and Model X deliveries increased by 10 % during the last quarter, which was also an 28 % increase from year earlier.
During the last quarter Tesla continued to open new stores and service locations and now there are 330 locations globally. There are 1128 Supercharger stations globally at the moment.
In the outlook statement Elon Musk expects the company quarterly operating income to turn sustainably positive at some point in 2018.