Tesla confirmed today its third quarter 2017 delivery numbers and the automaker delivered a record number of vehicles, including a few Model 3 sedans for the first time.
The automaker had previously guided over 23,000 Model S and Model X deliveries during the third quarter and it significantly beat the guidance with 14,065 Model S sedans and 11,865 Model X SUVs.
It represents a 4.5% increase quarter-over-quarter and 17.7% increase over the same period last year.
It’s a new record global delivery number for Model X – beating the previous record in Q1 2017 by over 300 units.
As for Model S, it’s the third highest number for Model S delivered, which shows that the launch of Model 3 had a minimal impact on deliveries so far.
Here’s a chart of Model S and Model X global deliveries since the launch of Model S back in 2012:
Tesla also confirmed production of 25,336 vehicles during the period and 4,820 Model S and X vehicles in transit at the end of the quarter.
As for Model 3, Tesla confirmed slow production of only 260 units:
“Model 3 production was less than anticipated due to production bottlenecks. Although the vast majority of manufacturing subsystems at both our California car plant and our Nevada Gigafactory are able to operate at high rate, a handful have taken longer to activate than expected. It is important to emphasize that there are no fundamental issues with the Model 3 production or supply chain. We understand what needs to be fixed and we are confident of addressing the manufacturing bottleneck issues in the near-term.”
That’s significantly below the production of 1,500 units that Tesla guided during the handover event in July.
As we reported last week, Tesla ran into early manufacturing issues with Model 3 production, but it more recently showed signs of increasing production.
The company is not changing the vehicle’s delivery schedule for Model 3, but it slightly increased guidance of “about 100,000 Model S and X vehicles in 2017,” which would require just over 26,000 vehicles during the fourth quarter.
Tesla’s press release in full:
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PALO ALTO, Calif., Oct. 02, 2017 (GLOBE NEWSWIRE) — In Q3, Tesla delivered 26,150 vehicles, of which 14,065 were Model S, 11,865 were Model X, and 220 were Model 3. This was our all-time best quarter for Model S and X deliveries, representing a 4.5% increase over Q3 2016, our previous best quarter, and a 17.7% increase over Q2 2017. We had previously indicated that second half Model S and X deliveries would likely exceed first half deliveries of 47,077, but we now expect to exceed that by several thousand vehicles. In total, we expect to deliver about 100,000 Model S and X vehicles in 2017, which would be a 31% increase over 2016. In addition to Q3 deliveries, about 4,820 Model S and X vehicles were in transit to customers at the end of the quarter. These will be counted as deliveries in Q4 2017. Q3 production totaled 25,336 vehicles, with 260 of them being Model 3. Model 3 production was less than anticipated due to production bottlenecks. Although the vast majority of manufacturing subsystems at both our California car plant and our Nevada Gigafactory are able to operate at high rate, a handful have taken longer to activate than expected. It is important to emphasize that there are no fundamental issues with the Model 3 production or supply chain. We understand what needs to be fixed and we are confident of addressing the manufacturing bottleneck issues in the near-term. 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%. 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. |
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