Hyperdrive

Tesla’s Model 3 Surge Marks a Big Step Toward Musk’s Profit Goal

Deliveries of the sedan jumped to 55,840 in the third quarter
Company says China tensions, delivery logistics were headwinds

Romit Shah, analyst at Instinet, discusses Tesla Inc.’s surge in electric-car deliveries that could prove pivotal.(Source: Bloomberg)

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By Dana Hull

October 2, 2018 at 8:48 AM EDT

Updated on

October 2, 2018 at 1:06 PM EDT

This article is for subscribers only.

Elon Musk isn’t saying so yet, but Tesla Inc. may have just has taken a major step toward his most elusive goal: earning profits.

Just days after federal authorities castigated Musk for his tweets about taking Tesla private, the company announced that it had hit its production target for its crucial Model 3 sedan, making more than 53,000 last quarter.

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