Tesla's newest Model 3 production numbers, while still short of its goals, were enough to help bolster the stock price by 6% on Tuesday after a brutal month.

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Data: Money.net; Chart: Axios Visuals

Why it matters: Weaker results could have sent market confidence in the automaker reeling. But Tesla is hardly out of the woods. Analyst Karl Brauer of Kelley Blue Book pointed out that "scrutiny of the company’s inner-workings has never been higher."

  • "If Tesla can show consistent growth in volume the market will likely mirror that growth in stock price and overall investor confidence. But tolerance for the brand’s history of missed numbers is likely at an end," he said in a statement circulated to reporters.

ICYMI: The Silicon Valley automaker said yesterday that 2,020 of the mass-market electric sedans rolled off the line in the final week of the first quarter, still shy of the (already scaled-back) goal of 2,500 per week by the end of Q1.

  • However, the company expressed confidence that it could reach 5,000 per week this quarter and build from there.

Bright spot: Tesla reported that 8,180 Model 3s were delivered to customers in the first quarter, and per Bloomberg, that makes it the best-selling electric vehicle in the U.S., outpacing sales of Toyota Prius Prime plug-in hybrid and the Chevy Bolt.

Be smart: As my colleagues Alayna Treene and Steve LeVine pointed out in the Axios stream yesterday...

  • If CEO Elon Musk is to persuade the market to give him more money to build out his ambitious production targets — something most analysts expect him to do, despite the company saying yesterday it doesn't require more funding it doesn't require more funding — he must both sustain this higher production, and get his flagship Model 3s up to 5,000 a week.

Go deeper

Appeals court upholds six-day extension for counting Wisconsin ballots

Photo: Derek R. Henkle/AFP via Getty Images

A federal appeals court on Tuesday upheld a lower court ruling that extended the deadline for counting mail-in ballots in Wisconsin until Nov. 9 as long as they are postmarked by the Nov. 3 election, AP reports.

Why it matters: It's a big win for Democrats that also means that the winner of Wisconsin, a key presidential swing state, may not be known for six days after the election. Republicans are likely to appeal the ruling to the Supreme Court, as the Pennsylvania GOP did after a similar ruling on Monday.

Go deeper: How the Supreme Court could decide the election

Updated 29 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 33,489,205 — Total deaths: 1,004,278 — Total recoveries: 23,243,613Map.
  2. U.S.: Total confirmed cases as of 7 p.m ET: 7,183,367 — Total deaths: 205,883 — Total recoveries: 2,794,608 — Total tests: 102,342,416Map.
  3. Health: Americans won't take Trump's word on the vaccine, Axios-Ipsos poll finds.
  4. States: NYC's coronavirus positivity rate spikes to highest since June.
  5. Sports: Tennessee Titans close facility amid NFL's first coronavirus outbreak.
  6. World: U.K. beats previous record for new coronavirus cases.
  7. Work: United States of burnout — Asian American unemployment spikes amid pandemic

What to watch in tonight's debate

Joe Biden (left) and President Trump (right) are facing off in Cleveland for the first presidential debate. Photos: Alex Wong (of Biden) and David Hume Kennerly (of Trump)/Getty Images

President Trump will try to break Joe Biden's composure by going after his son Hunter and other family members in tonight's first presidential debate — a campaign source tells Axios "nothing will be off the table" — while Biden plans to stick to the economy, coronavirus and new revelations about how Trump avoided paying taxes.

Driving the news: Biden and Trump are set to debate at 9pm ET at Case Western Reserve University in Cleveland, and it will be moderated by Fox News' Chris Wallace.

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