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Report: Tesla Misses Model 3 Car Production Target

In July 2018, Model 3 not only had the top market share position in its segment in the US, but it also outsold all other mid-sized premium sedans combined -- accounting for 52 per cent of the segment overall

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Tesla, board
Tesla to lay-off 7% full-time staff amid China dreams. Pixabay

Despite Chairman and CEO Elon Musk claiming that Tesla will ramp up production of its Model 3 car to 6,000 units per week, the electric carmaker has reportedly missed the goal and made only 4,300 units in the last week of August.

“Tesla is on track for a production record this quarter but slightly behind its ambitious Model 3 goal,” the ELetrek reported late on Sunday.

Model 3 comes with a base price tag of $35,000.

“Based on the same reliable source familiar with Tesla’s production, the automaker built about 6,400 vehicles during the last week (last seven days) of August (from 24th to 31st midday) including about 4,300 Model 3 vehicles,” the report claimed.

Earlier in August, buoyed by the increased production of Model 3 cars, Tesla reported a revenue of $4 billion in the second quarter of 2018, with $2.2 billion in cash in hand.

Elon Musk
Elon Musk (Wikimedia Commons)

“We are proud of our team for producing roughly 7,000 Model 3, Model S and Model X vehicles during the last week of June.

“A total vehicle output of 7,000 vehicles per week, or 350,000 per year, should enable Tesla to become sustainably profitable for the first time in our history, and we expect to grow our production rate further in Q3,” Elon Musk, CEO Tesla, said in a statement.

In July 2018, Model 3 not only had the top market share position in its segment in the US, but it also outsold all other mid-sized premium sedans combined — accounting for 52 per cent of the segment overall.

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“Having achieved our 5,000 per week milestone, we will now continue to increase that further, with our aim to produce 6,000 Model 3 vehicles per week by late August.

“We aim to increase production to 10,000 Model 3s per week as fast as we can. We believe that the majority of Tesla’s production lines will be ready to produce at this rate by the end of 2018,” Musk said. (IANS)

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Tesla CEO Elon Musk Forecasts Grim Future of Human Race

Musk first broached the topic back in 2017 when Musk replied to a publication saying, “The world’s population is accelerating towards collapse, but few seem to notice or care."

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Elon Musk, CEO of SpaceX. Wikimedia

Tesla CEO Elon Musk’s grim forecast of humanity suggests that a “population bomb” would lead to a worldwide collapse in humans in the coming decades and everybody would start to see the evident effects by 2050.

Musk’s prediction was triggered by a tweet from a page called World of Engineering that said: “1950 (historical) world population – 2,556,000,053. Current world population – 7,712,343,478. 2050 (projected) world population – 9,346,399,468.”

Replying to that tweet on Friday Musk wrote: “Real issue will be an ageing and declining world population by 2050, *not* overpopulation.”

Musk also shared a Wikipedia link to an article titled, “Projections of population growth”.

Tesla CEO Elon musk, board
Tesla CEO Elon Musk. (VOA)

“Yes, demographics, stratified by age, will look like an upside down pyramid with many old people and fewer young,” the multi-billionaire entrepreneur wrote further.

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The SpaceX CEO’s theory believes that when an increasingly-elderly global population clashes with declining birth rates around the world in the near future a ‘population bomb’ would go off, web portal Futurism reported.

Musk first broached the topic back in 2017 when Musk replied to a publication saying, “The world’s population is accelerating towards collapse, but few seem to notice or care.” (IANS)