Oct 2, 2018 - Energy & Environment

Tesla meets Q3 production targets for its Model 3 vehicles

A Tesla Model 3 on the production line. Photo: Mason Trinca for The Washington Post via Getty Images

Tesla produced 53,239 Model 3 sedans in the third quarter and delivered 55,840, the company announced Tuesday, meeting its goal of producing between 50,000 and 55,000 Model 3s in the quarter.

Why it matters: Tesla delivered 83,500 vehicles in Q3, which the company said is 80% more than what they delivered during all of 2017. This comes at the height of a tumultuous few months for the electric car-maker following CEO Elon Musk's "go-private tweet," that resulted in an SEC settlement under which Musk was forced to pay a $20 million penalty and step down as chairman of the company.

Go deeper