Tesla Produced Over 80,000 Cars In Third Quarter, Beating Estimates (electrek.co)

An anonymous reader quotes a report from Electrek: Tesla has now confirmed the official record production numbers of 80,000 vehicles. The automaker has also confirmed Q3 deliveries of 83,500 vehicles. Yesterday, Electrek reported the production numbers, which Tesla has now confirmed to be exactly 53,239 Model 3 vehicles and 26,903 Model S and X vehicles. Tesla elaborated on the Model 3 production ramp-up: "During Q3, we transitioned Model 3 production from entirely rear wheel drive at the beginning of the quarter to almost entirely dual motor during the last few weeks of the quarter. This added significant complexity, but we successfully executed this transition and ultimately produced more dual motor than rear wheel drive cars in Q3. In the last week of the quarter, we produced over 5,300 Model 3 vehicles, almost all of which were dual motor, meaning that we achieved a production rate of more than 10,000 drive units per week." Tesla delivered a total of 83,500 vehicles during the third quarter: 55,840 Model 3, 14,470 Model S, and 13,190 Model X.

Here's what Tesla had to say about the Model 3 deliveries: "Our Q3 Model 3 deliveries were limited to higher-priced variants, cash/loan transactions, and North American customers only. There remain significant opportunities to grow the addressable market for Model 3 by introducing leasing, standard battery and other lower-priced variants of the car, and by starting international deliveries."

Comments

Re:Hey, halfway to matching the Model A Ford

[TechyImmigrant]

The ford Model A was a bargain basement model. Tesla are hardly aiming at that market segment.

Go here : here and click on August and see how they are doing relative to similarly priced models today.

Re:Propaganda

[saloomy]

But they are profitable this quarter. As they get better and learn more, and have stronger economies of scale, they will increase margin, just like what happens to most businesses after the initial spending to build segment is over.

Shorting such an innovative company is lunacy. They are years ahead on battery tech, years ahead on drivetrain, years ahead on driving assistants, and years ahead on infrastructure (power wall, solar panels, superchargers) as any other competitor. News and articles and tweets and this crap is fine for shorting in the immediate term, but over the long ark of time, financial performance is what will govern the stock price, and I don't think there are any worries there. They have a product, people want to buy it, and they are learning how to build that product profitably. Everything else is noise.

Re:I would buy one...

[Rei]

You realize that Sandy Munroe, the guy you're citing, later changed his mind and called the vehicle a symphony of engineering, among other high praise? Literally stated "I have to eat crow" concerning his earlier analysis (aka what you linked)