Disregarding the demand issue charade brought on by Tesla shorts, the company known for their innovation in a dated industry is on track for another record quarter. Time and time again Tesla has reinstated their position as a leading automaker with many left in doubt. The doubt slowly fades as Tesla pushes forward with record after record. With the Model 3, the company currently holds the best selling car overall in both Norway and the Netherlands with the list only growing.
In an employee designated email leaked and obtained by Electrek, the leading Tesla news source, Tesla CEO Elon Musk shows confidence in hitting a new milestone this quarter, 100,000 cars delivered. Orders for the quarter currently sit at 110,000 with a few days more to go so the goal is just a matter of logistics.
“We have a shot at achieving our first 100,000 vehicle delivery quarter, which is an incredibly exciting milestone for our company!
The challenge is making sure that we have the right car variants in the right locations and rallying as much as our company resources as possible to help with the end of the quarter deliveries.”
This drastic jump in numbers comes as no surprise to many as typical Tesla end-of-quarter pushes result in discounts and incentives for new buyers. Tesla also happened to publicly release their highly anticipated V10 software update this week. In another industry breaking move, Tesla owners will now be able to stream Netflix from within their cars.
When Musk originally stated a full-year guidance of 360,000 – 400,000 deliveries, he was mocked at for being too unrealistic. After all, that’s about a 50% delivery increase year-over-year. That number now seems feasible with current deliveries already nearing the 300,000 mark. Quarter-over-quarter, Tesla has significantly increased deliveries for 2019. Musk has previously stated his expectation of turning a profit in Q3 ’19 and there on. Previous quarters have all been within reasonable expectations.
Gigafactory 3 is scheduled to begin producing cars for the Chinese market some time in Q4 ’19. The company expects to output 150,000 Model 3’s per year there with some lower priced models destined for the U.S. Market. With Gigafactory 3 in mind, Tesla has previously stated intention of producing 500,000 electric cars within the 12 month period between Q4 ’19 and Q4 ’20. That number, again, is starting to become more and more realistic.
Tesla’s previous best quarter was Q2 ’19 with 95,356 deliveries worldwide. Quarterly deliveries trailing-12-months are up nearly 90% year-over-year. The company has registered 100,899 VINs thus far this quarter.
At the beginning of this quarter, the federal tax credit on electric vehicles was halved from $3,750 to $1,875 for Tesla. Even with the phase out taking effect, the electric car company repeatedly continues to break delivery records. For Tesla, the rebate goes away on December 31st 2019 but lawmakers are pushing for an expansion.