Tesla officially announced the rise in their vehicle deliveries of over 95,200 electric units for the second quarter.
Tesla, the electric car pioneer, in its official news release, says it manufactured 14,417 Model X and Model S vehicles and transported 17,650 of them. 72,531 of its Model 3s were produced and 77,500 delivered. For a total of 87,048 cars produced and 95,200 delivered.
Previously, analysts expected 91,000 units to be delivered during the second quarter, that’s according to the estimates compiled by FactSet. In other words, this goal was not just met but even exceeded by more than four thousand units delivered.
This record-breaking news made a great comparison from the first quarter delivery numbers, that only hit 63,000 vehicle-deliveries. The low production indicates their future results; a loss of $702 million caused by few delivery numbers, costs and pricing adjustments to its vehicles.
A Tesla company representative also announced their new strategy in handling vehicles in transit going forward. “Customer vehicles in transit at the end of the quarter were over 7,400. Due to the order-to-VIN matching process, we described in our Q1 2019 Shareholder Letter, which we extended to Model S and Model X in Q2 to improve process efficiency, this metric has become less relevant. As a result, we do not plan to disclose the customer vehicles in transit metrics going forward.”
Tesla added that it produced 87,048 units in the second quarter compared to 77,100 in the previous period. In the second quarter, the production beats the company’s fourth-quarter stats of 86,555 vehicles.
“There’s an interesting thing that happens every quarter. Once solid estimates for Tesla’s quarterly production and delivery numbers are in, short sellers and critics jump to the next quarter and typically claim that delivery will fall off tremendously because pent-up consumer demand has been exhausted and sustainable new demand is going to be much more limited.” Tesla financial executive, Zach Kirkhorn said.
The company also pointed out that the record would not be a one-time spotlight. Instead, Orders in the second quarter exceeded deliveries. In conclusion, Tesla is entering the third quarter with a huge accumulation.