Today, October 2, Tesla (NASDAQ: TSLA) announced Q3 2020 delivery and production numbers. The California EV maker confirmed an all-time record 139,300 deliveries, beating most Wall Street analysts' expectations. The average analysts' estimates came in at 137,000 units. The company also produced all-time record 145,036 pure electric vehicles from their Fremont, California factory and Gigafactory Shanghai during the period of Q3 2020.
Tesla CEO Elon Musk posted on Twitter at the end of this quarter his utmost gratitude for new owners for "accommodating us on delivery timing," also giving a shoutout to all Tesla team members for their hard work.
Thanks Tesla Team for great work on deliveries! For new owners, we super appreciate accommodating us on delivery timing! Definitely one of our toughest quarters in global logistics.— Elon Musk (@elonmusk) September 26, 2020
Here is the breakdown, by model, of Q3 2020 delivery and production numbers:
Model S/X : 16,992
Model 3/Y: 128,044
Model S/X: 15,200
Model 3/Y: 124,100
Subject to lease accounting:
Model S/X: 13%
Model 3/Y: 7%
"In terms of days of sales, new vehicle inventory declined further in Q3 as we continue to improve our delivery efficiency.
Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q3 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles."
Tesla (NASDAQ: TSLA) delivered 88,400 vehicles in Q1 2020 and 90,650 vehicles in Q2 2020. Q3 2020 deliveries up 43% YoY, up 24% vs previous record.
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