Tesla (TSLA) has achieved record delivery volumes last week, according to sources familiar with the matter, as quarterly delivery expectations are jumping to record highs.
Last weekend, Tesla CEO Elon Musk thanked his team for “great work on deliveries”:
Thanks Tesla Team for great work on deliveries! For new owners, we super appreciate accommodating us on delivery timing! Definitely one of our toughest quarters in global logistics.
Now we learn that it was in reference to Tesla achieving a record delivery volume during the week, according to sources familiar with the matter.
It came after Musk sent an email to employees during the previous week to inform them that record deliveries for the quarter were achievable, but they needed to deliver “the most number of vehicles per day that we would ever have to deliver.”
While the total number of deliveries during the quarter is still unknown, it looks like Tesla might have achieved Musk’s goal.
Wall Street has high expectations with a delivery estimate consensus of roughly 140,000 vehicles — rising from 123,000 just a few weeks ago.
Tesla is expected to release its Q3 delivery and production results by the end of the week.
I am a bit confused about this quarter. Most delivery estimates are between 135,000 and 145,000 vehicles and they seem to be based on what Tesla needs to get to be on pace to achieve its targeted 500,000 deliveries for the full year.
However, Elon indicated that they have “a shot at record quarter for deliveries.”
Considering Tesla’s last record deliveries were 112,000 vehicles, it would put this quarter closer to that range.
However, as I mentioned in my previous article about the email, Elon always leaves room for interpretation in those emails to all employees.
He could have meant US or North American deliveries only as some have interpreted it, but the email was sent out to all employees globally, and in previous similar emails, he was referring to Tesla’s global deliveries.
Now, “a shot at record quarter for deliveries” is vague in itself, and Tesla could also end up beating it by more.
I think that’s a better possibility than him meaning North American or US delivery, especially if Tesla achieved its goal last week with record delivery volumes.
That would leave them four extra days to surpass the last record quarterly deliveries, and that would put them much closer to 140,000 deliveries.
But again, we don’t know that to be necessarily true, either.
Personally, I think Wall Street is being a bit too optimistic here. I am going to stay on the sidelines on this one.
What do you think? Let us know in the comment section below.
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