Tesla narrowly misses 100k deliveries in Q3
Tesla delivered around 97,000 electric cars in the third quarter, including 79,600 Model 3, as well as 17,400 Model S and Model X. Although the Californians failed to meet their their target of 100,000 deliveries, they still achieved yet another record quarter.
As usual, Tesla has given insight into production and delivery figures for the most recent quarter in advance of the detailed quarterly annual report. The approximately 97,000 electric cars delivered correspond to an increase of almost two per cent compared with Q2 (95,356 electric vehicles). This delivery volume is offset by 96,155 vehicles produced between July and September – including 79,837 Model 3 and a total of 16,318 Model S and Model X cars. In the previous quarter, the number of electric cars produced was considerably lower at 87,048.
Both values represent the company’s highest figures so far, but Tesla still fails to meet its high standards. The Californian company has been quite optimistic about making 360,000 to 400,000 deliveries this year. This was reconfirmed not long ago in Tesla’s letter to its shareholders on the Q2 figures. By comparison, Tesla delivered a total of 158,200 vehicles in the first half of the year. Even to reach the lower target threshold, Tesla would have had to deliver more than 100,000 vehicles in the third and fourth quarters. It is, therefore, becoming increasingly unlikely that the company will be able to make corresponding gains in the fourth quarter alone, but with these close figures, surprises are, of course, still possible.
Meanwhile, Tesla reports that the third quarter also saw a new record in orders – but have not yet given concrete figures. The company states, “We achieved record net orders in Q3 and are entering Q4 with an increase in our order backlog.” As in the second quarter, almost all Model 3 orders were received from customers who have not held a reservation before. This shows that the company is on the way to “strong organic demand”, says Tesla. The fact that Tesla’s unprocessed order backlog is growing is pushing up the pressure on the electric car manufacturer to continue increasing production.
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