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Tesla releases Q2 2018 production numbers: 28,578 total Model 3, 5,031 in one week

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During the final week of the second quarter, Tesla managed to produce 5,031 Model 3 and 1,913 Model S & X. Tesla’s Q2 2018 production totaled 53,339 vehicles, a 55% increase from the first quarter, making it the most productive quarter in the company’s history so far. Model 3 production, which reached a total of 28,578 units, also exceeded the combined Model S and X production of 24,761 vehicles during Q2 2018.

Q2 deliveries totaled 40,740 vehicles, of which 18,440 were Model 3, 10,930 were Model S, and 11,370 were Model X. As noted by Tesla, both orders and deliveries for the flagship luxury sedan and SUV were higher in Q2 than a year ago. Tesla also expects its overall target for 100,000 Model S and Model X deliveries in 2018 to be unchanged.  

Tesla managed to produce almost three times the number of Model 3 in Q2 than it did in Q1 2018. According to the company’s vehicle production and deliveries report, the GA3 line within the Fremont factory is expected to have the capability to hit a production rate of 5,000 Model 3 per week on its own. Augmented with GA4, the Model 3’s newest assembly line set up in the massive sprung structure on the grounds of the Fremont factory, however, Tesla noted that it was able to hit its production target for the compact electric car faster.

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With the 5,000/week mark attained, Tesla is now looking to increase its production capacity for the Model 3 even further. According to the company, it expects to increase its manufacturing rate to 6,000 Model 3 per week by late next month. Tesla also reaffirms its guidance for positive GAAP net income and cash flow in the upcoming third and fourth quarter, regardless of external challenges such as a weakening dollar and higher tariffs for vehicles imported into China.

As of the end of Q2 2018, Tesla had 11,166 Model 3 vehicles and 3,892 Model S and Model X in transit to customers, with deliveries expected to be scheduled sometime early in the third quarter. According to Tesla, the high number of vehicles in transit was primarily due to an increase in production during the end of Q2 2018. Remaining net Model 3 reservations as of the end of Q2 stood at roughly 420,000, despite Tesla having delivered 28,386 Model 3 vehicles to date. Tesla expects more orders for the compact electric car to ramp once more as test drives for the Model 3 start getting offered in galleries in the near future.

Tesla’s most recent milestone comes as a huge victory for the electric car maker. Over the past year, Tesla struggled to ramp up the production of the compact electric sedan, with CEO Elon Musk dubbing the endeavor as “production hell.” During the second quarter, however, Tesla dug deep in order to overcome its production challenges, with the company resorting to unorthodox solutions, such as air-freighting robots from Europe and setting up a new assembly line in a sprung structure, in order to improve its chances of attaining its Q2 0218 production goals. As noted by the company in its recent report, however, the hardship over the past 12 months has been well worth it.

“The last 12 months were some of the most difficult in Tesla’s history, and we are incredibly proud of the whole Tesla team for achieving the 5,000 unit Model 3 production rate. It was not easy, but it was definitely worth it.”

Tesla’s delivery numbers, particularly its 5,000 Model 3 per week milestone, has been received warmly by the company’s investors. As of writing, Tesla stock (NASDAQ:TSLA) is trading up 5.30% at $361.16 per share.

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Tesla’s production and delivery report for Q2 2018 can be accessed here.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Cantor Fitzgerald reaffirms bullish view on Tesla after record Q3 deliveries

The firm reiterated its Overweight rating and $355 price target.

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(Credit: Tesla)

Cantor Fitzgerald is maintaining its bullish outlook on Tesla (NASDAQ:TSLA) following the company’s record-breaking third quarter of 2025. 

The firm reiterated its Overweight rating and $355 price target, citing strong delivery results driven by a rush of consumer purchases ahead of the end of the federal tax credit on September 30.

On Tesla’s vehicle deliveries in Q3 2025

During the third quarter of 2025, Tesla delivered a total of 497,099 vehicles, significantly beating analyst expectations of 443,079 vehicles. As per Cantor Fitzgerald, this was likely affected by customers rushing at the end of Q3 to purchase an EV due to the end of the federal tax credit, as noted in an Investing.com report. 

“On 10/2, TSLA pre-announced that it delivered 497,099 vehicles in 3Q25 (its highest quarterly delivery in company history), significantly above Company consensus of 443,079, and above 384,122 in 2Q25. This was due primarily to a ‘push forward effect’ from consumers who rushed to purchase or lease EVs ahead of the $7,500 EV tax credit expiring on 9/30,” the firm wrote in its note.

A bright spot in Tesla Energy

Cantor Fitzgerald also highlighted that while Tesla’s full-year production and deliveries would likely fall short of 2024’s 1.8 million total, Tesla’s energy storage business remains a bright spot in the company’s results.

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“Tesla also announced that it had deployed 12.5 GWh of energy storage products in 3Q25, its highest in company history vs. our estimate/Visible Alpha consensus of 11.5/10.9 GWh (and vs. ~6.9 GWh in 3Q24). Tesla’s Energy Storage has now deployed more products YTD than all of last year, which is encouraging. We expect Energy Storage revenue to surpass $12B this year, and to account for ~15% of total revenue,” the firm stated. 

Tesla’s strong Q3 results have helped lift its market capitalization to $1.47 trillion as of writing. The company also teased a new product reveal on X set for October 7, which the firm stated could serve as another near-term catalyst.

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Tesla just got a weird price target boost from a notable bear

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Credit: Tesla Manufacturing

Tesla stock (NASDAQ: TSLA) just got a weird price target boost from a notable bear just a day after it announced its strongest quarter in terms of vehicle deliveries and energy deployments.

JPMorgan raised its price target on Tesla shares from $115 to $150. It maintained its ‘Underweight’ rating on the stock.

Despite Tesla reporting 497,099 deliveries, about 12 percent above the 443,000 anticipated from the consensus, JPMorgan is still skeptical that the company can keep up its momentum, stating most of its Q3 strength came from leaning on the removal of the $7,500 EV tax credit, which expired on September 30.

Tesla hits record vehicle deliveries and energy deployments in Q3 2025

The firm said Tesla benefited from a “temporary stronger-than-expected industry-wide pull-forward” as the tax credit expired. It is no secret that consumers flocked to the company this past quarter to take advantage of the credit.

The bump will need to be solidified as the start of a continuing trend of strong vehicle deliveries, the firm said in a note to investors. Analysts said that one quarter of strength was “too soon to declare Tesla as having sustainably returned to growth in its core business.”

JPMorgan does not anticipate Tesla having strong showings with vehicle deliveries after Q4.

There are two distinct things that stick out with this note: the first is the lack of recognition of other parts of Tesla’s business, and the confusion that surrounds future quarters.

JPMorgan did not identify Tesla’s strength in autonomy, energy storage, or robotics, with autonomy and robotics being the main focuses of the company’s future. Tesla’s Full Self-Driving and Robotaxi efforts are incredibly relevant and drive more impact moving forward than vehicle deliveries.

Additionally, the confusion surrounding future delivery numbers in quarters past Q3 is evident.

Will Tesla thrive without the EV tax credit? Five reasons why they might

Tesla will receive some assistance from deliveries of vehicles that will reach customers in Q4, but will still qualify for the credit under the IRS’s revised rules. It will also likely introduce an affordable model this quarter, which should have a drastic impact on deliveries depending on pricing.

Tesla shares are trading at $422.40 at 2:35 p.m. on the East Coast.

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Tesla Q3 deliveries expected to exceed 440k as Benchmark holds $475 target

Tesla stock ended the third quarter at $444.72 per share, giving the EV maker a market cap of $1.479 trillion at the end of Q3 2025. 

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(Credit: Tesla)

Benchmark has reiterated its “Buy” rating and $475 price target on Tesla stock (NASDAQ: TSLA) as the company prepares to report its third-quarter vehicle deliveries in the coming days. 

Tesla stock ended the third quarter at $444.72 per share, giving the EV maker a market cap of $1.479 trillion at the end of Q3 2025. 

Benchmark’s estimates

Benchmark analyst Mickey Legg noted that he expects Tesla’s deliveries to hit around 442,000 vehicles this Q3, which is under the 448,000-unit consensus but still well above the 384,000 vehicles that the company reported in Q2 2025. According to the analyst, some optimistic estimates for Tesla’s Q3 deliveries are as high as mid-460,000s.

“Tesla is expected to report 3Q25 global production and deliveries on Thursday. We model 442,000 deliveries versus ~448,000 for FactSet consensus with some high-side calls in the mid-460,000s. A solid sequential uptick off 2Q25’s ~384,000, a measured setup into year-end given a choppy incentive/pricing backdrop,” the analyst wrote.

Benchmark is not the only firm that holds an optimistic outlook on Tesla’s Q3 results. Deutsche Bank raised its own delivery forecast to 461,500, while Piper Sandler lifted its price target to $500 following a visit to China to assess market conditions. Cantor Fitzgerald also reiterated an “Overweight” rating and $355 price target for TSLA stock.

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Stock momentum meets competitive headwinds

Tesla’s anticipated Q3 results are boosted in part by the impending expiration of the federal EV tax credit in the United States, which analysts believe has encouraged buyers to finalize vehicle purchases sooner, as noted in an Investing.com report.

Tesla shares have surged nearly 30% in September, raising expectations for a strong delivery report. Benchmark warned, however, that some volatility may emerge in the coming quarter.

“With the stock up sharply into the print (roughly ~28-32% in September), its positioning raises the bar for an upside surprise to translate into further near-term strength; we also see risk of volatility if regional mix or ASPs underwhelm. We continue to anticipate policy-driven choppiness after 3Q as certain EV incentives/credits tighten or roll off in select markets, potentially creating 4Q demand air pockets and order-book lumpiness,” the analyst wrote.

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