Tesla CEO Elon Musk said the electric automaker is not facing demand problems despite economic headwinds, and the company expects to sell every vehicle it can produce in the current quarter from its factories in California, Texas, Germany and China.
"There's been a lot of questions about demand in recent weeks," Musk said on the third-quarter earnings call Wednesday. "I can't emphasize enough we have excellent demand for Q4 and we expect to sell every car that we make for as far into the future as we can see."
Tesla said it expects to grow production by 50 percent annually for the foreseeable future, but deliveries might fall below that number as the company faces transportation challenges as it grows beyond a million units a year.
The automaker is ramping production at its new factories in Austin, Texas and Berlin, Germany. Its original factory in Fremont, Calif. is running at a record pace and its Shanghai factory has undergone a recent expansion.
"The factories are running at full speed and we're delivering every car we can make and keeping operating margins strong," Musk said.
Tesla also said it remains on track to launch the highly anticipated Cybertruck pickup next year out of its Texas factory, which opened earlier this year. But Musk said he wasn't going to give out details about the Cybertruck or other future products right now.
"Sorry folks, we can't jump the gun on future product announcements," Musk said.
Cybertruck reservation holders have expressed worry the pickup may be far more expensive than when Tesla previewed it in 2019. Tesla originally said the price would start around $40,000, but has since backed off on that number.