Tesla said it would produce its new Model 3 sedan at a profit after several recent weeks in which output stabilised, buoying hopes that the electric vehicle maker led by Elon Musk will stanch its financial losses in the second half of the year. Chief Executive Musk is under intense pressure to prove he can deliver consistent production numbers for the sedan, Tesla’s lowest-priced model and the key to its plans to become a mass-market automaker, after a host of manufacturing challenges and concerns it was running through cash too quickly. Despite Tesla reporting a record loss that doubled to $718 million (546.88 million pounds)in the second quarter, shares jumped as much as 11 percent in after-hours trading, as investors focused on steadier production volumes and a slower rate of cash burn.