Tesla Posts Quarterly Delivery Record But Misses Musk’s Hoped-For 100,000 Units

A Tesla assembly line worker gets tips from a roving physical therapist at the company's Fremont, California, plant.Tesla delivered a record 97,000 electric sedans and crossovers to customers in the third quarter, led by the Model 3, doing a bit better than consensus expectations but falling short of the 100,000-unit mark CEO Elon Musk apparently hoped to achieve.

Tesla is “entering Q4 with an increase in our order backlog,” the company said. “As was also the case in Q2, nearly all of our Model 3 orders were received from customers who did not previously hold a reservation, solidifying the transition to generating strong organic demand. We are continuing to focus on increasing production to meet that demand.”

“Tesla management has targeted a long-term auto gross margin of 25% in a steady state ... but we left 2Q with the feeling that there was an increased dependence on and regulatory credits to bridge the gap between the 18.9% gross margin they reported,” Jonas said in a research note. “We don't currently see scope for these to meaningfully improve over time.”

Crossovers? Huh?

It's not uncommon now to be passed, left in the dust, by a Tesla here.

a father figure 👀

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla misses Wall Street estimates with 97,000 vehicle deliveries in third quarterMusk set expectations high again this quarter, telling employees in a recent email that the company 'has a shot' at delivering 100,000 cars, which would set a new record. Bernauerarno Pretty close actually. I think the Model 3 in various trims should be the focus of Tesla going forward if they ever plan to achieve profitability. electric razors on wheels. junk. Hollywood to Vegas, time to recharge....it's hilarious watching the signed up 'globalists' that are around my buddy's place in the Hollywood Hills, wait 'til it's dark to park their Tesla's and go for real pleasure in their porsches, ferraris etc
Source: CNBC - 🏆 12. / 72 Read more »

BYD could get China’s Tesla back on the roadNio is sputtering. Making snazzy rides for the world's largest market is burning up cash, and the $1.4 bln electric-car maker is now contemplating more cuts just to keep up. That could tarnish a shiny brand. Pooling with a more experienced peer, like BYD, may be a better option.
Source: Breakingviews - 🏆 470. / 51 Read more »

Tesla registers Shanghai construction unit in acceleration of China plansU.S. electric vehicle maker Tesla Inc has registered a construction company in C... Trump is making us loose business of the future, and jobs. Islam58300889
Source: Reuters - 🏆 2. / 97 Read more »