Shares of Tesla (NASDAQ: TSLA) had revved 2.3% higher as of 11:30 a.m. ET on Friday, after Reuters reported that the electric vehicle leader is planning to extend its lead even more -- and potentially challenge BMW for total sales volume.
In an exclusive report this morning, Reuters cited internal Tesla documents that show the company aims to produce more than 500,000 electric vehicles in the fourth quarter -- then maintain or even increase that production pace throughout 2023.
The Q4 prediction alone is pretty astounding. Tesla will report its Q3 production numbers this weekend, and even Citigroup's analyst -- one of the more optimistic ones following the EV maker -- doesn't expect to hear that the company exceeded 370,000 for the period. Ramping up to 500,000 or more vehicles in Q4 would therefore represent at least a 35% sequential growth rate. And over the first three quarters of 2023, Tesla is aiming to produce 1.6 million vehicles, putting it on track to sell more than 2.1 million EVs over the course of next year.
Source Fool.com