Not much of a move, net.
Expect a flurry of comments after deliveries are announced. Whenever that happens...
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Expect a flurry of comments after deliveries are announced. Whenever that happens...
ValueAnalyst
Closed
PALO ALTO, Calif., Oct. 02, 2017 (GLOBE NEWSWIRE) -- In Q3, Tesla delivered 26,150 vehicles, of which 14,065 were Model S, 11,865 were Model X, and 220 were Model 3. This was our all-time best quarter for Model S and X deliveries, representing a 4.5% increase over Q3 2016, our previous best quarter, and a 17.7% increase over Q2 2017.
We had previously indicated that second half Model S and X deliveries would likely exceed first half deliveries of 47,077, but we now expect to exceed that by several thousand vehicles. In total, we expect to deliver about 100,000 Model S and X vehicles in 2017, which would be a 31% increase over 2016.
In addition to Q3 deliveries, about 4,820 Model S and X vehicles were in transit to customers at the end of the quarter. These will be counted as deliveries in Q4 2017.
Q3 production totaled 25,336 vehicles, with 260 of them being Model 3. Model 3 production was less than anticipated due to production bottlenecks. Although the vast majority of manufacturing subsystems at both our California car plant and our Nevada Gigafactory are able to operate at high rate, a handful have taken longer to activate than expected.
It is important to emphasize that there are no fundamental issues with the Model 3 production or supply chain. We understand what needs to be fixed and we are confident of addressing the manufacturing bottleneck issues in the near-term.
Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5%. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.
We had previously indicated that second half Model S and X deliveries would likely exceed first half deliveries of 47,077, but we now expect to exceed that by several thousand vehicles. In total, we expect to deliver about 100,000 Model S and X vehicles in 2017, which would be a 31% increase over 2016.
In addition to Q3 deliveries, about 4,820 Model S and X vehicles were in transit to customers at the end of the quarter. These will be counted as deliveries in Q4 2017.
Q3 production totaled 25,336 vehicles, with 260 of them being Model 3. Model 3 production was less than anticipated due to production bottlenecks. Although the vast majority of manufacturing subsystems at both our California car plant and our Nevada Gigafactory are able to operate at high rate, a handful have taken longer to activate than expected.
It is important to emphasize that there are no fundamental issues with the Model 3 production or supply chain. We understand what needs to be fixed and we are confident of addressing the manufacturing bottleneck issues in the near-term.
Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5%. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.
Production status of Model 3 looks pretty bad actually. Way worse than anyone of us thought.
This language is BS:
"It is important to emphasize that there are no fundamental issues with the Model 3 production or supply chain. We understand what needs to be fixed and we are confident of addressing the manufacturing bottleneck issues in the near-term."
They said very similar things during X. Ramp is not stable until it is stable. I expect a substantial drop in SP.
This language is BS:
"It is important to emphasize that there are no fundamental issues with the Model 3 production or supply chain. We understand what needs to be fixed and we are confident of addressing the manufacturing bottleneck issues in the near-term."
They said very similar things during X. Ramp is not stable until it is stable. I expect a substantial drop in SP.
MartinAustin
Active Member
Record S/X high margin deliveries.
No Model 3 production issues.
Stock's initial reaction is to tank.
Makes perfect TSLA sense.
No Model 3 production issues.
Stock's initial reaction is to tank.
Makes perfect TSLA sense.
MartinAustin
Active Member
Makes perfect esk8mw sense.
TSLA has swung between $336 and $348 in the 12 minutes since the close, and currently sits down $3 at $338.
I would hardly call that tanking.
bdy0627
Active Member
They are clearly still in production hell unfortunately. I think the market will punish for that.
ValueAnalyst
Closed
These results are as expected, except for the minor issues with Model 3 ramp.
Don't forget to adjust for the ~1,300 increase of in-transit units from end-2Q to end-3Q.
Don't forget to adjust for the ~1,300 increase of in-transit units from end-2Q to end-3Q.
bdy0627
Active Member
So far in AHT, it seems like traders are having a bit of a hard time figuring out what to do with this data. If that mindset persists tomorrow morning, a swift short attack will likely determine the direction more forcefully.
racer26
Active Member
Even though it shouldn't. Time axis shift by 1-2 weeks could have made all the difference in the world here. Which is exactly what Elon keeps saying, because its true.
The important news here is that 26k S/X deliveries confirms that 3 isn't osborning them.
ValueAnalyst
Closed
The fact that Model S and Model X are expected to grow substantially is positive and should mitigate.
tinm
2020 Model S LR+ Owner
Model 3 numbers are awful. Puts Elon's recent BFR/Mars talk in a new, not entirely positive light. Wish TSLA had a superb COO.
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