Tesla is planning to produce 495,000 Model Y and Model 3 globally in the fourth quarter, much higher than in the third quarter, and plans to build 1.6 million Model Y and Model 3 globally in the first three quarters of 2023, Reuters said, citing sources.
According to the production plan, Tesla’s 2023 production increase will exceed the expected increase in the global automotive market by nearly 10 times or more than 50 percent.
Tesla’s internal plan shows that the company plans to significantly increase global production of its best-selling Model Y and Model 3 electric vehicles in the fourth quarter, and build on that metric with new plants in Austin and Berlin in 2023.
If this is successfully achieved, Tesla is on track to meet Elon Musk’s production target in the next quarter, and by the end of 2023, Tesla will be close to the size of German luxury automaker BMW (BMW).
Elon Musk has set goals many times before, but Tesla has not always been able to achieve them. For example, in April this year, Elon Musk said that Tesla’s deliveries could grow by 60%, and by July this year has adjusted this goal to 50%.
The company expects to produce 1.59 million Model Ys and Model 3s by the first three quarters of next year, and to sell more than 2.1 million electric cars by the end of 2023.
In late May, Elon Musk said the new plants in Texas and Germany were losing billions of dollars, comparing them to “giant melting pots of money.
Brokerage firm Piper Sandler expects Tesla to deliver 354,000 vehicles in the third quarter; Citi expects to deliver 369,800 vehicles; and Tesla Watch analyst Troy Teslike expects sales of the Tesla Model Y and Model 3 sedans to reach 343,779.
If Tesla meets or exceeds these analysts’ forecasts and meets internal targets seen by Reuters, the company will sell about 1.4 million vehicles worldwide in 2022.
