Tesla Meets Q3 Product Goals of 50,000 To 55,000 Model 3s (electrek.co)

An anonymous reader quotes a report from Electrek: Electrek has learned that Tesla already achieved the goal for a new record production with two days still to go before the end of the quarter. As we reported last week, Tesla achieved a new record day of Model 3 production, but it was cutting it close for the quarterly goal. The automaker had been guiding a production of 50,000 to 55,000 Model 3 vehicles for the third quarter. According to a reliable source familiar with Tesla's production, the automaker had a strong week of production and managed to bring the total number Model 3 produced to over 51,000 vehicles. For the first time in months, Tesla was able to produce about 5,000 Model 3 vehicles over seven days. The total production for the week was at around 6,700 vehicles -- bringing the total for the quarter to about 77,400 vehicles. Tesla was able to maintain production of about 1,100 cars per day over four days this week and about 800 Model 3's per day over three of those days. It's one of the highest levels of production that Tesla was ever able to maintain.

Comments

Re:Still got a ways to go

[110010001000]

Ford also makes about $1.5 billion in profit every quarter. But they aren't going to take us to Mars like Musk is, so who cares?

Re: Thanks Rei

[TechyImmigrant]

News on production is relevant to profits. News on tweets, Musk's sleep schedule and SEC action is not. I took the dip as a buying opportunity.

Re: Thanks Rei

[Rei]

Also, if you think Tesla needs Musk to thrive... "meh". Did Paypal need him? Don't get me wrong, I like his extremely aggressive moat-bridging business strategies, and am somewhat annoyed about the SEC taking actions that 99% of TSLA shareholders don't want, in order to "protect shareholders". But once you get to a certain point, a company runs on its own momentum. Did Apple just collapse after Jobs died? No, it went on to become the first trillion dollar public company.

I have no clue, BTW, what his odds are against the SEC. I thought the SEC settlement offer was surprisingly mild - it didn't even require him to admit fault. And settlement offers seemingly most commonly call for a five year ban from serving as CEO, but they only called for a two year ban in this case. I don't know why the SEC made such a mild offer, whether it was some form of generosity, or whether they think that they might actually lose this case. But they clearly wanted to settle.

Re: Thanks Rei

[Barsteward]

You'll find the detractors here do not have that capability of separating the 2 things. Virtually every negative prediction they've made about the cars and their production has failed so they try desperately try elsewhere to distract you from their failures.

Re: Thanks Rei

[Raenex]

50k in a quarter is a very solid number for a sedan in the US. 100k would be amazing - better than Camry sales. Dunno about OP, but I certainly would have bought more.

That's an extreme form of gambling. You would be betting on Tesla becoming a powerhouse of the car industry. Let's look at some company-wide numbers:

"Toyota Motor Sales U.S.A. said vehicle deliveries in the U.S. fell 2 percent to 223,055 in August, which had the same number of selling days in 2017."

That's over 200,000 in one month.

Now let's look at a comparison of market capitalization in this article from one year ago:

"The top automakers, their market caps as of this week (June 19), and 2016 worldwide sales are:

1. Toyota, $155.88 billion market cap, 10.1 million sales
2. Daimler, (Mercedes-Benz), $70.35 billion, 3 million sales
3. Volkswagen, $67.24 billion, 10.3 million sales
4. Tesla, $60.28 billion, 76,230 sales
5. BMW, $54.77 billion, 2.4 million sales
6. GM, $51.45 billion, 9.6 million sales
7. Ford, $44.65 billion, 6.7 million sales"

Is it possible Tesla can eventually achieve numbers that justify their market cap? Yes. But missing in that price is the very real risk that they won't.