Output Forecast Of Tesla Jumps During Q4 Growth In 2023 Also Likely

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Output Forecast Of Tesla Jumps During Q4 Growth In 2023 Also Likely

Output Forecast Of Tesla Jumps During Q4 - Growth In 2023 Also Likely

Tesla (TSLA) has devised a plan to increase its production of the best-selling electric cars, such as Model 3 and Model Y, in the 4th quarter of 2022. And the company also plans to build on that momentum as it enters into 2023! Some of the newer Tesla factories in Berlin and Austria have also ramped up their production.

If the production forecast of Tesla is achieved, it will become possible to reach Elon Musk's production goal for the next quarter. On top of that, this will make Tesla close to BMW (a German automaker) by 2023 end.

A History Of Stretched Targets

Let's also not forget that Tesla and Elon Musk has a record of overstretching their targets. As a result, the company hardly meets any of the set targets!

In April, Elon Musk claimed that the company would achieve 60% growth in car deliveries. But by the end of July, the company had only managed to achieve the 50% target.

Tesla has announced this ambitious goal despite the rising risks of the slow economy, new competition, and a drop in the order of Tesla cars. On top of that, the company is also facing supply chain risks which can seriously hinder the output forecasts.

Based on the forecast, the company is planning to produce around 495,000 cars of Model 3s and Model Y during Q4 2022. Out of all the Tesla cars, these two models, in particular, account for 95% output of Tesla.

If we look at the financial side of Tesla, the new expansion plan is proving to be quite expensive. The new factories in Germany and Texas have been losing billions of dollars, and many are comparing them with massive money furnaces!

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