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Johan
Ex got M3 in the divorce, waiting for EU Model Y!
No problems here. It's only 10:45 PM. I have three kids under the age of 5 so I never sleep anyway.
"In Q2, we expect to produce about 12,500 vehicles, representing a 12% sequential increase.
We plan to deliver 10,000 to 11,000 vehicles in Q2, and we are still on track to deliver approximately 55,000 Model S and X cars in 2015."
Very good.
We plan to deliver 10,000 to 11,000 vehicles in Q2, and we are still on track to deliver approximately 55,000 Model S and X cars in 2015."
Very good.
I hope weíll have some specifics on the CC about that demand for the 70D. If S60 was 10%, it'd be interesting to see how it compares, even if it's early on. Also, liked the part about 70D barely impacting 85 sales.
I am mildly worried about X being a "late" Q3 delivery. Not that we were expecting anything but August/September, we do know "Tesla time", but next time they guide for soemthing aftera series of delays, they shouldn't just barely make it.
On the flip side we have never heard Q1 for Gigafactory. When they announced 2016, I was thinking the reason they are so vague is because it will be Q4 and just so they can claim 2016. this is really good!
I am mildly worried about X being a "late" Q3 delivery. Not that we were expecting anything but August/September, we do know "Tesla time", but next time they guide for soemthing aftera series of delays, they shouldn't just barely make it.
On the flip side we have never heard Q1 for Gigafactory. When they announced 2016, I was thinking the reason they are so vague is because it will be Q4 and just so they can claim 2016. this is really good!
Vger
Active Member
Yes, and it feels like they are leaving room to beat this number. I bet their internal target is 12k deliveries.
Ufrugger
Member
No mention of the CPO program and it's affiliated cost/revenue potential. Since this program is ongoing and 'official' with their website presence, I believe Elon will discuss it during the call and presumably boast of its benefits in terms of profitability for the company (though minor compared to their main auto sales) as well as affordability for buyers who otherwise can't afford the higher priced new model.
I am honestly REALLY pleasantly surprised that they are going to actually fire up Gigafactory One in Q1 2016. That is phenomenal, and it means that the ramp-up towards huge revenues in automotive and energy markets will be even swifter than we thought.
Johan
Ex got M3 in the divorce, waiting for EU Model Y!
2015 Q1 Discussion thread for Delivery numbers, Earnings Report and Conferenc...
They did say, if you're read between the lines, that it's a money maker:
"We expect Services and other gross margin to be slightly better than breakeven in Q2, and continue to improve to about 5% by Q4. The improvement will come from cost reductions on Daimler powertrains as well as increased sales of Tesla Energy and pre-owned Model S vehicles."
So they lump the profits from the CPO cars with "services and other". Not vehicle sales.
They did say, if you're read between the lines, that it's a money maker:
"We expect Services and other gross margin to be slightly better than breakeven in Q2, and continue to improve to about 5% by Q4. The improvement will come from cost reductions on Daimler powertrains as well as increased sales of Tesla Energy and pre-owned Model S vehicles."
So they lump the profits from the CPO cars with "services and other". Not vehicle sales.
on a side note: anyone noticed how they used the blue 70D picture of the 70D press kit and added the subtitle "all wheel drive 85D" under it? LOL.
Good report overall specially that they reiterated 55K deliveries this year.
Some points to digest.
- $1.5B cash in hand, and $1.5B planned expenses this year.
- Q2 should be smooth but Q3 suddenly becomes battleground. In Q3, margins will be affected due to new ramp of the X. In the 2nd half, Tesla will have to deliver 34K cars. That's a huge ask considering that Model X won't ship until late Q3. It may have issues to ramp up production too quickly. Something to watch out for.
- I expect Tesla to offer a secondary in Q3. It is too much risk launching Model X in late Q3 while not having enough money for black swan events. I would like Tesla to have at least a B on hand anytime. Without secondary, the math does not add up.
Some points to digest.
- $1.5B cash in hand, and $1.5B planned expenses this year.
- Q2 should be smooth but Q3 suddenly becomes battleground. In Q3, margins will be affected due to new ramp of the X. In the 2nd half, Tesla will have to deliver 34K cars. That's a huge ask considering that Model X won't ship until late Q3. It may have issues to ramp up production too quickly. Something to watch out for.
- I expect Tesla to offer a secondary in Q3. It is too much risk launching Model X in late Q3 while not having enough money for black swan events. I would like Tesla to have at least a B on hand anytime. Without secondary, the math does not add up.
Hogfighter
Professional Lurker
I saw that they are assembling the stationary storage in th GF in Q1 2016.....does that mean they will be making batteries at that time as well?
Johan
Ex got M3 in the divorce, waiting for EU Model Y!
It is confirmed in the letter that they will be increasing their warehouse loans to pay for used car inventory - possibly for existing inventory and not just new inventory, so that should free up cash.
RobStark
Well-Known Member
Didn't they say last call they had hundreds of millions of dollars in self financed leases they could commoditize if necessary?
Remember, the deposits at the end of December were unusually high due to shipping difficulties. So this actually represents an increase in demand.
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