Tesla announces record deliveries of 97,000 cars in Q3

[Hamartia Antidote]

https://electrek.co/2019/10/02/tesla-record-deliveries-q3/amp/

Tesla released its Q3 2019 delivery and production numbers today after market-close and the company confirmed a new delivery record of 97,000 vehicles.

Over the last week, we have been reporting that CEO Elon Musk told employees in an email that Tesla “has a shot” at delivering 100,000 vehicles during the third quarter.

Tesla was in a full force end-of-the-quarter delivery push, but a day before the end of the quarter, sources told Electrek the automaker was “a few thousand” cars short of the goal.

It didn’t mean that it was impossible to achieve, but it made it hard.

Today, Tesla confirmed “record production of 96,155 vehicles and record deliveries of approximately 97,000 vehicles” – coming short of its goal by a few thousand units.

Tesla’s previous record was achieved in Q2 2019 when the automaker produced 87,048 vehicles and delivered approximately 95,200 vehicles globally.

For the past three months, Tesla also confirmed achieving record net orders and entering the fourth quarter with a bigger backlog:

“In addition, we achieved record net orders in Q3 and are entering Q4 with an increase in our order backlog.”

In the leaked email, Musk told employees that Tesla was tracking at 110,000 new net orders for the quarter.

Tesla’s stock (TSLA) was down by as much as 5% in after-hours trading following the news.

Electrek’s Take
This is great news. Not as great as 100,000 cars, but we kind of expected that after what we heard from our sources on Monday.

Either way, we are still talking about Tesla producing and delivering a record number of all-electric vehicles.

Also, based on what we know in terms of net orders, it is clear that the missed goal is not a demand problem.

It’s a production and logistics problem, which is going to be partly fixed by the start of production at Gigafactory 3. It’s going to increase Tesla’s overall production capacity and free up some capacity in Fremont for a quicker turnaround in markets outside of China.

 

[VCheng]

Tesla released its Q3 2019 delivery and production numbers today after market-close and the company confirmed a new delivery record of 97,000 vehicles.

But the total revenue may drop for the first time since more of the cars being produced are the cheaper models.

 

[Beast]

https://www.telegraph.co.uk/technology/2019/10/02/tesla-shares-fall-despite-record-delivery-numbers-missing-elon/amp/

Tesla shares fall despite record delivery numbers after missing Elon Musk's target

 

[Hamartia Antidote]

https://www.telegraph.co.uk/technology/2019/10/02/tesla-shares-fall-despite-record-delivery-numbers-missing-elon/amp/

Tesla shares fall despite record delivery numbers after missing Elon Musk's target

"Shares in the electric car firm fell by 4pc after hours after it posted the figures, which show the company delivered 97,000 cars. The number falls short of average Wall Street estimates, which predicted the company would deliver 99,000 vehicles."

LOL! off by only 2,000

 

[Beast]

"Shares in the electric car firm fell by 4pc after hours after it posted the figures, which show the company delivered 97,000 cars. The number falls short of average Wall Street estimates, which predicted the company would deliver 99,000 vehicles."

LOL! off by only 2,000

Doesn't matter, it failed to meet target.

 

[Hamartia Antidote]

https://cleantechnica.com/2019/10/08/tesla-reached-7000-cars-per-week-in-3rd-quarter-nobody-noticed/

Tesla Reached 7,000 Cars Per Week In 3rd Quarter & Nobody Noticed


From the start of Tesla Model 3 production until about a year ago, the most important, nearly daily, Tesla news was about the weekly production numbers. We visited the Bloomberg tracker regularly to stay abreast of the news, and the FUD. And then Tesla started producing over 4,000 vehicles per week regularly and the interest disappeared. Tesla finished the marathon many doubted it could endure for more than a mile, two at the most.


Those were fun times. Tesla reaching 100, 200, 500, and even 1,000/week was an exciting progression of events. Elon Musk teased production numbers on Twitter that were one-time events and some claimed that they could “never” be sustained at a steady production level. The monthly sales number guesstimates on InsideEVs and Tesla’s quarterly delivery disclosures were preceded and followed by heated speculation.

As a somewhat more detailed reminder of what happened, Tesla designed a futuristic 5,000 unit/week production line, only to discover that humans were greatly undervalued and that line had to be redesigned while slowly ramping the production numbers. There was the plan to build a second 5,000 unit/week line when more vehicles were needed.

However, when redesigning the line, optimizing and tuning all the steps, Tesla realized that it would be less costly to enhance the line to higher throughput numbers than to build a second line. To be precise, upgrading to 7,000 units/week would be possible with small enhancements and a little capex. Upgrading to 10,000 units/week would require serious investments. The 7,000 unit/week option was really a no-brainer. The 10,000 unit/week option was a possibility that probably never reached the status of plan, let alone stimulating any actual planning.

When building Gigafactory 3 (GF3) in Shanghai became reality, all talks of 10,000 units/week in Fremont were forgotten (except by some foolhardy trolls).

In those days, Musk and some other figures with a grasp of production tried to explain what 41.6 cars/hour or 1,000 cars/day or 7,000 cars/week represents. Many did simple arrhythmic and proclaimed production of 360,000 or even 365,000 per year.


While 24 x 41.67 indeed equals 1,000, there is never a day when there is no slowing down or stopping of the line. To get to 1,000 cars/day, you have to get to a steady 47/hour. There are always bathroom, coffee, breakage, accident, repair, and other interruptions. For the same reason, you need 1,100 to 1,150 cars/day to reach a 7,000 cars/week. Or, at least, something like that. Jerome Guillen, Tesla’s president of automotive, knows the exact number.


That coveted 7,000 cars/week will not result in 91,000 vehicles/quarter. That is 80,000 at the most. A rule of thumb of 11½ weeks per quarter is often used in planning.

In a production environment, there are always production disturbances, accidents, needed repairs, maintenance, upgrades, alterations, etc., besides the holidays and other valid reasons to close the factory for a day or so longer.

Such issues happened a lot in the disastrous first quarter of this year. They happened at a normal rate in the third quarter, and they will happen in each quarter in the future.

But with a total of 79,837 Tesla Model 3 vehicles produced in the last quarter, we now know that the steady 7,000 unit/week total for a whole quarter has been reached. The most remarkable thing about this achievement is that it was not noted by all those people who were so focused on this number a year ago. It was a non-event, as it should be with a normal carmaker.