Tesla Has Huge Q3

October 2, 2016 by Douglas A. McIntyre

Tesla (NASDAQ: TSLA) crushed expectations for Q3, based on figures in a press release

PALO ALTO, CA — (Marketwired) — 10/02/16 — Tesla (NASDAQ: TSLA) delivered approximately 24,500 vehicles in Q3, of which 15,800 were Model S and 8,700 were Model X. This was an increase of just over 70% from last quarter’s deliveries of 14,402. Our Q3 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.

In addition to Q3 deliveries, about 5,500 vehicles were in transit to customers at the end of the quarter. These will not be counted as deliveries until Q4.

Production rose to 25,185 vehicles in Q3. This was an increase of 37% from Q2 production of 18,345.

We expect Q4 deliveries and production to be at or slightly above Q3, despite Q4 being a shorter quarter and the challenge of delivering vehicles in winter weather over holidays. Guidance of 50,000 vehicles for the second half of 2016 is maintained.

Now, investors can wait to see if the Model 3 launches on time, and whether Tesla can deliver orders for those in a timely fashion