Tesla will top its record for quarterly deliveries in the second quarter, beating the 90,700 it sent to customers in the final quarter of last year, Chief Executive Officer Elon Musk told to the company's staff.
Musk sent an email to Tesla's employees saying that the company had on average produced 900 Model 3 cars per day this week, bringing it closer to a target of 7,000 per week. He also said the company had racked up over 50,000 net new orders this quarter as of Tuesday.
Tesla’s investors have been concerned about the company after it reported slack first quarter demand for its vehicles against a backdrop of U.S.-China trade tensions.
Analysts at Loup Ventures and Morgan Stanley had previously given increasingly bearish commentary on the U.S. electric-car maker.
Loup Ventures co-founder Gene Munster had cut his estimate for Tesla’s full-year global car sales by about 10% to 310,000 vehicles, versus the minimum 360,000-unit target the manufacturer set in March.
Morgan Stanley analyst Adam Jonas, who earlier this week said that Tesla stock could plunge to as low as $10 in a worst-case scenario, held a private call with investors Wednesday in which he said the company is “seen more as a distressed credit and restructuring story.” Recent fund-raising gives Tesla a two-year cash cushion as long as deliveries exceed 300,000 a year through 2020, though the protective timeframe narrows if vehicle sales fall below that level, he said.