On February 19, the CEO tweeted projections for 2019 Tesla manufacturing numbers at around 5,00,000 and hours later revised the estimate to 400,000.
Tesla chief executive officer (CEO) Elon Musk has made yet another forecast for the company's 2019 production.
Tesla will produce between 420,000 and 600,000 cars in 2019, Musk said on a call with reporters to discuss the arrival of Tesla's new $35,000 version of the Model 3 sedan, according to a report in Bloomberg.
Musk's latest forecast comes just days after US stock regulators accused him of violating a court-endorsed deal between the electric automaker and the regulatory agency regarding reviewing his tweets prior to being published.
Meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week. Deliveries for year still estimated to be about 400k.
— Elon Musk (@elonmusk) February 20, 2019
Musk's forecast was 1,00,000 to 1,40,000 more than what the company had announced in a January 30 shareholder letter.
Earlier, Musk came under the scanner of US Securities and Exchange Commission (SEC) for his tweet about taking the company private.
Am considering taking Tesla private at $420. Funding secured.— Elon Musk (@elonmusk) August 7, 2018
According to Musk, his latest update includes the forecast for 2019 production of the Model S sedan and Model X SUV, which he said will be between 70,000 and 100,000.
While Musk cautioned "we don’t have a crystal ball," he explained:"350,000 to 500,000 Model 3s, is what I said in the earnings call. And then we would expect to make somewhere between 70,000 to 100,000 of the S and X. So the lower bound would be 350,000 plus 70,000, and the upper bound would be 500,000 plus 100,000."Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.