April 3, 2018 / 1:13 PM / 21 days ago

BRIEF-Tesla Says Q1 Production Totaled 34,494 Vehicles, A 40 Pct Increase From Q4

April 3 (Reuters) - Tesla Inc :

* TESLA SAYS Q1 PRODUCTION TOTALED 34,494 VEHICLES, A 40% INCREASE FROM Q4

* IN THE PAST SEVEN DAYS, TESLA PRODUCED 2,020 MODEL 3 VEHICLES

* Q1 DELIVERIES TOTALED 29,980 VEHICLES, OF WHICH 11,730 WERE MODEL S, 10,070 WERE MODEL X, AND 8,180 WERE MODEL 3‍​

* IN THE NEXT SEVEN DAYS, EXPECT TO PRODUCE 2,000 MODEL S AND X VEHICLES AND 2,000 MODEL 3 VEHICLES

* TESLA SAYS OF Q1 PRODUCTION, 24,728 WERE MODEL S AND MODEL X, AND 9,766 WERE MODEL 3

* 4,060 MODEL S AND X VEHICLES WERE IN TRANSIT TO CUSTOMERS AT THE END OF Q1, WHICH WAS 68% HIGHER THAN AT THE END OF Q4 2017‍​

* NET MODEL 3 RESERVATIONS REMAINED STABLE THROUGH Q1

* ADDITIONAL 2,040 MODEL 3 VEHICLES WERE ALSO IN TRANSIT TO CUSTOMERS

* ABLE TO DOUBLE WEEKLY MODEL 3 PRODUCTION RATE DURING QUARTER BY ADDRESSING BOTTLENECKS, INCLUDING SEVERAL SHORT FACTORY SHUTDOWNS TO UPGRADE EQUIPMENT

* TESLA SAYS IF RATE OF GROWTH OF MODEL 3 CONTINUES, "IT WILL EXCEED EVEN THAT OF FORD AND THE MODEL T" Source text: (bit.ly/2Jg0ez1) Further company coverage:

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