Tesla, Inc (TSLA) reportedly produced 7400 Model 3 sedans in less than 2 weeks

Tesla, Inc (NASDAQ:TSLA) is starting the quarter of with a bang, boasting volume output that is close to matching its goal of 5000 cars per week.

According to a report in Elektrek, Tesla has produced 7,400 Model 3 mid-sized sedans since the beginning of the quarter. Including its other vehicles, Tesla has produced 11,500 cars since the start of Q4 a few weeks ago.

CNBC provides details:

Tesla has struggled with production on the Model 3 in the past. It had originally aimed to make 5,000 cars a week at the end of 2017 but did not reach that goal until the end of the second quarter this year. However the company did deliver more vehicles in the third quarter than analysts expected. At the time, the automaker said production had stabilized.

The rate is holding strong despite the tendency for production to slow down at the end of the month. After years of struggling with production, Tesla created more vehicles than analysts expected last quarter.

Tesla, Inc shares closed at $258.78 on Friday, up $6.55 (+2.60%). Year-to-date, TSLA has declined -16.88%, versus a 4.76% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of D (Sell), and is ranked #10 of 25 stocks in the Auto & Vehicle Manufacturers category.