Blog Tesla Built 260 Model 3s, Broke Records for Model S, Model X in Third Quarter

Tesla delivered a record number of vehicles in its third quarter 2017, but missed production estimates on the Model 3, the automaker’s new electric sedan for the mass market.

Tesla confirmed production of only 260 Model 3 units, significantly below the 1,500 units that Tesla said it hoped to build by the end of August.

In a press release, the company said the delay is caused by a bottleneck in the manufacturing process that will be corrected in the “near-term.”

“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.”

The automaker significantly beat the guidance for Model S and Model X deliveries in the third quarter, with 14,065 Model S sedans and 11,865 Model X SUVs. A total of 25,336 vehicles were produced during the period and 4,820 Model S and X vehicles were in transit at the end of the quarter.

It was Tesla’s all-time best quarter for Model S and X deliveries, representing a 4.5% increase over Q3 2016, the previous best quarter, and a 17.7% increase over Q2 2017.

 

[flyhigh123]

What's new? I'm surprised they even got 260 out based on their track record with the x and s

 

[FlyingCookie]

What's new? I'm surprised they even got 260 out based on their track record with the x and s

Nothing is new, but this was supposed to be a turning point for the company. Hopefully they get it figured out and get production up to par...

 

[scottlawson]

Optimistic headline. You made it sound like 280 cars 'broke records' . . . clever.

 

[telsanzjohn]

Good numbers on the S and X. Which is great news if you consider that, according to Elon, these are the vehicle sales that are 'funding' the 3.

 

[MichaelSNU]

Optimistic headline. You made it sound like 280 cars 'broke records' . . . clever.

You missed a comma.

 

[pdq]

Tesla delivered a record number of vehicles in its third quarter 2017, but missed production estimates on the Model 3, the automaker’s new electric sedan for the mass market. Tesla confirmed production of only 260 Model 3 units, significantly below the 1,500 units that Tesla said it hoped to build by the end of August. In...
[WPURI="https://teslamotorsclub.com/blog/2017/10/02/tesla-built-260-model-3s-broke-records-for-model-s-model-x-in-third-quarter/"]READ FULL ARTICLE[/WPURI]

Yes, they produced a record number of vehicles, but that's telling only part of the story. First, Tesla told analysts that they projected production of 26,000 and they missed that number, producing 25,150, so they got pretty close, but again they over committed and under delivered. Second, that's the number that rolled off the production line. The real question is how many they actually sold to customers. The "available inventory" of brand new cars is growing.

The model 3? Tesla set expectations of delivering 1,500 in Q3 and only did 220.

Analyst firms reacted. Bernstein reaffirmed their stock price at $265 and Goldman lowered their projection to $210. The company is burning through cash at a rate that's never been seen in history and hasn't gotten close to showing a profit.

I own a P90D and have made money selling Tesla stock which is easy to do given its volatility. But I also think that people paying current stock prices have drank the KoolAid, relying on the charismatic story versus the fundamentals of a publicly traded company.

 

[Model 3]

The model 3? Tesla set expectations of delivering 1,500 in Q3 and only did 220.

Well, actually this is not correct. They talked about 30 (Jul) + 100 (Aug) + >1500 (Sept.) (yes, the blog in this thread also have got this part wrong). If it should be *delivered* or just produced is a bit unclear.
Tesla Model 3: Elon Musk updates his guidance on production ramp up and deliveries

Elon Musk ✔ @elonmusk
Replying to @elonmusk
Handover party for first 30 customer Model 3's on the 28th! Production grows exponentially, so Aug should be 100 cars and Sept above 1500.

Tesla told analysts that they projected production of 26,000 and they missed that number, producing 25,150,

So they missed by 850 cars produced? And they where about 1500 short for Model 3 in the same month? Well, they did clearly after all produce all the Model S and X that they did project and more. They was just low on their Model 3 production.

 

[FANTOM]

Yes, they produced a record number of vehicles, but that's telling only part of the story. First, Tesla told analysts that they projected production of 26,000 and they missed that number, producing 25,150, so they got pretty close, but again they over committed and under delivered. Second, that's the number that rolled off the production line. The real question is how many they actually sold to customers. The "available inventory" of brand new cars is growing.

The model 3? Tesla set expectations of delivering 1,500 in Q3 and only did 220.

Analyst firms reacted. Bernstein reaffirmed their stock price at $265 and Goldman lowered their projection to $210. The company is burning through cash at a rate that's never been seen in history and hasn't gotten close to showing a profit.

I own a P90D and have made money selling Tesla stock which is easy to do given its volatility. But I also think that people paying current stock prices have drank the KoolAid, relying on the charismatic story versus the fundamentals of a publicly traded company.

Yes, they produced a record number of vehicles, but that's telling only part of the story. First, Tesla told analysts that they projected production of 26,000 and they missed that number, producing 25,150, so they got pretty close, but again they over committed and under delivered. Second, that's the number that rolled off the production line. The real question is how many they actually sold to customers. The "available inventory" of brand new cars is growing.

The model 3? Tesla set expectations of delivering 1,500 in Q3 and only did 220.

Analyst firms reacted. Bernstein reaffirmed their stock price at $265 and Goldman lowered their projection to $210. The company is burning through cash at a rate that's never been seen in history and hasn't gotten close to showing a profit.

I own a P90D and have made money selling Tesla stock which is easy to do given its volatility. But I also think that people paying current stock prices have drank the KoolAid, relying on the charismatic story versus the fundamentals of a publicly traded

Yes, they produced a record number of vehicles, but that's telling only part of the story. First, Tesla told analysts that they projected production of 26,000 and they missed that number, producing 25,150, so they got pretty close, but again they over committed and under delivered. Second, that's the number that rolled off the production line. The real question is how many they actually sold to customers. The "available inventory" of brand new cars is growing.

The model 3? Tesla set expectations of delivering 1,500 in Q3 and only did 220.

Analyst firms reacted. Bernstein reaffirmed their stock price at $265 and Goldman lowered their projection to $210. The company is burning through cash at a rate that's never been seen in history and hasn't gotten close to showing a profit.

I own a P90D and have made money selling Tesla stock which is easy to do given its volatility. But I also think that people paying current stock prices have drank the KoolAid, relying on the charismatic story versus the fundamentals of a publicly traded company.

This is a Pro-Tesla website, No? I've never heard so much nonsense from "customers". Sounds like all everyone does here is bitch and complain to share ideas about how to short-sell the company and con Sales and Service into free services.

Investing is having stock over 10 years. Trading Tesla stock is gambling, or short-selling. And you're an owner?! What a selfish retard. Want the company to do well, invest in It! Don't add to the volatility. What a joke this website is. Tesla doesn't need owners like you. They need customers who believe in and support their product, despite downfalls of a start up American EV manufacturer. Not people to go make websites to exploit them.

 

[pdq]

FANTOM:

You have no concept of the number of problems that I continue to have with my car that still have not been corrected in 2 years. All I keep hearing is "Yes, that's a known problem". They can't seem to be able to fix problems.

So, in that case, who's the retard, me or them?

When I pay $120,000 for a car, I expect solutions to problems. I bought a car, not a pipedream story.

Oh, and BTW, I have my Series 7 and 63 Broker licenses -- so please don't lecture me on investing. But otherwise, many thanks for your very kind words.

 

[Richard Hugo]

Sounds to me like pdq needs to sell his Tesla and move on. I've owned a model S since Sept.2013 with only minor issues.And Tesla always took care of with utmost professionalism.And my opinion is that brokers live off the titty of the hard working people of of this country and have no clue about manufacturing.
Well said, FANTOM, sounds like a bunch weeny wieners not getting there way. Obviously have never been on a manufacturing floor!

 

[Electroman]

And my opinion is that brokers live off the titty of the hard working people of of this country and have no clue about manufacturing

+1

 

[claudelaval]

What's new? I'm surprised they even got 260 out based on their track record with the x and s

Some of The early adopter of the Model S did have to wait 4 years maybe the same story will happen again. On my part it's now 19 months and I'M sure eastern Canada is not on a priority list!