A few hours later, he backtracked slightly, saying he meant Tesla would be manufacturing about 125,000 cars per quarter by the end of this year, a pace that would translate into 500,000 vehicles annually.
Deliveries were approximately 63,000 vehicles, which was 110% more than the same quarter past year, but 31% less than last quarter. Tesla had a total of 10,600 vehicles in transit at the end of last month as the company started sales of the Model 3 in China and Europe.
After being accused of contempt over a series of tweets, Elon Musk exited federal court on Thursday with a judge's order to meet with Securities Exchange Commission regulators to resolve multiple legal disputes around Musk's tweets about Tesla.
On Wednesday night, Tesla repeated its January 30 vehicle delivery forecast, but said first-quarter deliveries had fallen 31 percent from the prior three months to about 63,000. JPM was almost spot-on with estimated vehicles in transit, however, estimating 10,000 vehicles were still tied-up in logistics.
Musk's 13-word tweet on February 19 said Tesla would produce around 500,000 vehicles this year.
That is also inaccurate and Musk proceeded to correct that the company would deliver 400,00 models but that annualised production would be around 500,000.
The firm blamed problems with shipments to Europe and China, where it began selling its Model 3 vehicle for the first time.
Burger King Tests New Impossible Whopper At Select Locations
Burger King rivals, food conglomerates and meat packers are cooking up more plant-based burgers. The Impossible Burger is already available in slider form at Carl's Jr . and White Castle .
Maybe alluding that the track was a joke, Musk linked to an article about the rap ahead of April Fool's Day, tweeting, "Making The Onion articles real".
The "funding secured" tweet had sent Tesla's share price up as much as 13.3 percent.
Tesla cited challenges it encountered with deliveries overseas.
Tesla ended a year ago with about US$3.7 billion of cash and equivalents but had to pay off a US$920 million convertible bond in February.
Last year, Musk agreed to step down as chairman of the company and to dial down his tweets about the company's affairs after sending the industry into a flurry by claiming he was taking Tesla, a publicly traded company, private for $420 a share. But it said it ended the quarter with sufficient cash on hand.