Tesla issued its latest quarterly earnings report, claiming 22,026 Model S and Model X vehicles delivered for a total of 47,077 through the first half of 2017.
The company produced 25,708 vehicles in the second quarter, up 40% from the same period a year earlier.
Tesla said it is actually seeing an increase in orders for its luxury Model S vehicles, despite the launch of a cheaper model.
Tesla posted $2.79 billion in sales for the quarter, more than doubling from a year earlier. Its losses increased 37% to $401 million for the quarter as it ramps up for Model 3, but that loss was smaller than Wall Street expected.
Despite the wider loss in the quarter, Tesla CEO Elon Musk said the company was on track in many areas — including batteries, solar panels, and maintaining sales of its existing vehicles, the Model S sedan and Model X sport utility vehicle — even as it rolls out the Model 3.
He added that Tesla was starting to look at locations for battery factories in China and Europe, although he said most of its battery production would probably remain in the United States.
Although Tesla posted stronger sales of the Model S and the Model X, the biggest challenge it faces is preparing for the introduction of the Model 3, the company’s first foray into the mass market, with prices starting at $35,000.
The Palo Alto-based automaker is now averaging more than 1,800 net reservations each day for its cheaper electric car, following an event last week to hand over keys to the first 30 Model 3 vehicles.
Tesla did not provide an updated figure for its total waiting list. At the event last week, Tesla CEO Elon Musk said the reservation number was over 500,000. On a conference call with analysts Wednesday, he clarified the number was actually 455,000, including cancellations.
The company delivered the first 30 to buyers July 28, all of them Tesla employees. A hundred more will be built in August, 150 in September, followed by a ramp up to 5,000 a week by the end of December, the company said.
The first production Model 3 vehicles are pre-configured with rear-wheel drive, a long-range battery starting at $44,000, with premium upgrades for an additional $5,000. This vehicle will offer a range of 310 miles and a 0-60 mph time of 5.1 seconds. The standard Model 3, starting at $35,000 with 220 miles of range and a 0-60 mph time of 5.6 seconds, should be available in the U.S. in November. Dual Motor All-Wheel Drive configurations will be available in the U.S. early next year. International Model 3 deliveries will begin in late 2018, contingent upon regulatory approvals, starting with left-hand drive markets, followed by right-hand drive markets in 2019.
