Automotive revenue in Q4 increased by 36% over Q4 2016, mainly due to 35% growth in vehicle deliveries. For 2017, automotive revenue was up 52% from 2016. ZEV credit sales in Q4 were $179 million as compared to $20 million in Q4 2016.

Tesla said that production of Model S and Model X during Q4 was limited to 22,137 vehicles due to reallocation of some of the manufacturing resources to Model 3 production.

Approximately 23% of Q4 deliveries were subject to lease accounting, which was slightly higher than in Q3.

Model 3. Tesla said that it continues to target weekly Model 3 production rates of 2,500 by the end of Q1 and 5,000 by the end of Q2.

It is important to note that while these are the levels we are focused on hitting and we have plans in place to achieve them, our prior experience on the Model 3 ramp has demonstrated the difficulty of accurately forecasting specific production rates at specific points in time. What we can say with confidence is that we are taking many actions to systematically address bottlenecks and add capacity in places like the battery module line where we have experienced constraints, and these actions should result in our production rate significantly increasing during the rest of Q1 and through Q2.

—Tesla Q4 2017 Investor Letter

Tesla said that it intends to start adding enough capacity to get to a 10,000-unit weekly rate for Model 3 once it hits the 5,000 per week milestone.

Despite the production delays, Model 3 net reservations remained stable in Q4.

2018. Tesla said that it expects Model S and Model X deliveries to be approximately 100,000 in total for 2018, constrained by the supply of cells with the old 18650 form factor. As our sales network continues to expand to new markets in 2018, we believe orders should continue to grow. Capital expenditures in 2018 are projected to be slightly more than 2017. The majority of the spending will be to support increases in production capacity at Gigafactory 1 and Fremont, and for building stores, service centers, and Superchargers.