In a Thursday, June 14, 2018 file photo, Tesla CEO and founder of the Boring Company Elon Musk speaks at a news conference, in Chicago.
Kiichiro Sato/AP
In a Thursday, June 14, 2018 file photo, Tesla CEO and founder of the Boring Company Elon Musk speaks at a news conference, in Chicago.
Now playing
01:39
Elon Musk steps down as Tesla chairman
Now playing
04:22
Levi's CEO has message for Mitch McConnell
Elon Musk's Neuralink says this monkey is playing Pong with its mind
From Neuralink/Youtube
Elon Musk's Neuralink says this monkey is playing Pong with its mind
Now playing
01:41
Elon Musk's company says this monkey is playing Pong with his mind
CNN
Now playing
02:36
The truth behind Covid-19 vaccines for sale on the dark web
Heinz ketchup packets are shown in New York on Monday, August 22, 2005. H.J. Heinz Co., the world's biggest ketchup maker, said first-quarter profit fell 19 percent on expenses to cut jobs and sell businesses.  (Photo by Andrew Harrer/Bloomberg via Getty Images)
Andrew Harrer/Bloomberg/Getty Images
Heinz ketchup packets are shown in New York on Monday, August 22, 2005. H.J. Heinz Co., the world's biggest ketchup maker, said first-quarter profit fell 19 percent on expenses to cut jobs and sell businesses. (Photo by Andrew Harrer/Bloomberg via Getty Images)
Now playing
01:53
Restaurants face a nationwide ketchup packet shortage
CNN
Now playing
03:53
Norwegian Cruise Line CEO to CDC: We want to be treated fairly
Getty Images
Now playing
02:18
This airplane-shaped bag is selling for more than some actual planes
A medical worker prepares to administer a dose of the AstraZeneca vaccine in Belgrade, Serbia, Tuesday, March 23, 2021. American federal health officials say results from a U.S. trial of AstraZeneca's COVID-19 vaccine may have included "outdated information" and that could mean the company provided an incomplete view of efficacy data. (AP Photo/Darko Vojinovic)
Darko Vojinovic/AP
A medical worker prepares to administer a dose of the AstraZeneca vaccine in Belgrade, Serbia, Tuesday, March 23, 2021. American federal health officials say results from a U.S. trial of AstraZeneca's COVID-19 vaccine may have included "outdated information" and that could mean the company provided an incomplete view of efficacy data. (AP Photo/Darko Vojinovic)
Now playing
03:46
These are all the complications AstraZeneca's vaccine has faced
A driver rides his car in front of the Lyft Drivers Hub in Los Angeles, California, March 29, 2019. Ride-hailing company Lyft made its Initial Public Offering (IPO) on the Nasdaq Stock Market on March 29th. (Photo by Apu Gomes/AFP/Getty Images)
Apu Gomes/AFP/Getty Images
A driver rides his car in front of the Lyft Drivers Hub in Los Angeles, California, March 29, 2019. Ride-hailing company Lyft made its Initial Public Offering (IPO) on the Nasdaq Stock Market on March 29th. (Photo by Apu Gomes/AFP/Getty Images)
Now playing
04:55
Lyft co-founder: Supporting voter access is important for business
Citigroup Chairman Richard Parsons delivers remarks on the US economy at the New York State Bar Association meetings in New York, January 28, 2009. Troubled US banking giant Citigroup last week named Parsons as its new chairman, the longtime top executive at media giant Time Warner, to steer it through its most challenging period.  AFP PHOTO / Emmanuel Dunand (Photo credit should read EMMANUEL DUNAND/AFP via Getty Images)
EMMANUEL DUNAND/AFP/AFP via Getty Images
Citigroup Chairman Richard Parsons delivers remarks on the US economy at the New York State Bar Association meetings in New York, January 28, 2009. Troubled US banking giant Citigroup last week named Parsons as its new chairman, the longtime top executive at media giant Time Warner, to steer it through its most challenging period. AFP PHOTO / Emmanuel Dunand (Photo credit should read EMMANUEL DUNAND/AFP via Getty Images)
Now playing
02:47
Dick Parsons: Georgia law is a bald-faced attempt to suppress Black vote
Resturant Yurkevcih Pkg 1
CNN
Resturant Yurkevcih Pkg 1
Now playing
02:55
Restaurants are still struggling, but see hope on the horizon
WASHINGTON, DC - SEPTEMBER 16:  Patrick Soon-Shiong, chairman and CEO of the Institute for Advanced Health, participates in a discussion at the Bipartisan Policy Center, September 16, 2014 in Washington, DC.  The Bipartisan Policy Center released a report titled Innovative Strategies from America's Business Leaders.  (Photo by Mark Wilson/Getty Images)
Mark Wilson/Getty Images North America/Getty Images
WASHINGTON, DC - SEPTEMBER 16: Patrick Soon-Shiong, chairman and CEO of the Institute for Advanced Health, participates in a discussion at the Bipartisan Policy Center, September 16, 2014 in Washington, DC. The Bipartisan Policy Center released a report titled Innovative Strategies from America's Business Leaders. (Photo by Mark Wilson/Getty Images)
Now playing
04:04
Patrick Soon-Shiong: We have to recognize racism and 'break it'
ATLANTA, GA - MARCH 03: Demonstrators stand outside of the Georgia Capitol building, to oppose the HB 531 bill on March 3, 2021 in Atlanta, Georgia. HB 531 will add controversial voting restrictions to the state's upcoming elections including restricting ballot drop boxes, requiring an ID requirement for absentee voting and limiting weekend early voting days. The Georgia House passed the bill and will send it to the Senate. (Photo by Megan Varner/Getty Images)
Megan Varner/Getty Images
ATLANTA, GA - MARCH 03: Demonstrators stand outside of the Georgia Capitol building, to oppose the HB 531 bill on March 3, 2021 in Atlanta, Georgia. HB 531 will add controversial voting restrictions to the state's upcoming elections including restricting ballot drop boxes, requiring an ID requirement for absentee voting and limiting weekend early voting days. The Georgia House passed the bill and will send it to the Senate. (Photo by Megan Varner/Getty Images)
Now playing
02:24
Coca Cola, Delta Airlines strike back at Georgia voting laws
Now playing
03:08
'I want women to be as rich as humanly possible': Meet TikTok's wealth coaches
Now playing
05:41
NFTs have completely transformed these digital artists' lives
P&G
Now playing
01:45
This new P&G ad confronts stereotypes against Black Americans
(CNN Business) —  

A tumultuous quarter at Tesla ended with some very good sales numbers.

The company delivered 83,500 vehicles during the third quarter, a strong performance that should calm investor fears about logistical problems and a looming cash crunch. That included almost 56,000 of the lower-priced Model 3.

Production was a bit below that number: Tesla said it built about 53,000 Model 3s. But that was within the company’s projections.

Only three months ago, the company struggled to build 5,000 Model 3s in a week, a long-delayed target. Tesla did not maintain that pace, but production was still high enough to keep the company on track to turn a sustained profit for the first time.

Tesla was sorely in need of good news.

In August, CEO Elon Musk proposed, then abandoned, plans to take the company private. The SEC sued Musk last week, claiming he had deceived investors by claiming in a tweet that he had secured financing to go private.

On Saturday, the second to last day of the quarter, Musk reached a deal with the SEC to pay a $20 million fine and step aside as chairman of Tesla. He will remain as CEO, news that relieved Wall Street on Monday.

Executives have also left the company in recent months, including the chief accounting officer, who quit after less than a month on the job.

Tesla (TSLA) stock closed down about 3% following the production and sales report.

Tesla will release revenue and profit numbers later in the quarter. The report did not give details on where those figures would come in. It did say that all Model 3s sold at the end of the quarter were the more expensive all-wheel-drive models, powered by dual electric motors.

Musk also sent an email to all Tesla employees over the weekend saying that the company was close to its goal of being profitable.

“We are very close to achieving profitability and proving the naysayers wrong, but, to be certain, we must execute really well tomorrow (Sunday),” he wrote, referring to the last day of the quarter. “If we go all out tomorrow, we will achieve an epic victory beyond all expectations.”

The company has reported only two quarters of modest profits in its 10-year history. It has reported a total of $6 billion in losses during that time.

Tesla has $1.2 billion in debt maturing within the next six months, which has prompted some analysts to project the company would need to sell additional shares or debt to raise cash.

Musk has said revenue from sales would give Tesla the cash it needs. But he also has admitted that the company has run into problems delivering its cars. That added to investor concerns about a cash crunch.

“Sorry, we’ve gone from production hell to delivery logistics hell,” Musk tweeted two weeks ago to a customer who inquired when a promised car would be delivered. “This problem is far more tractable,” he added. “We’re making rapid progress.”