Easily beats Q1 and sets a new record.
Tesla has just released some record-crushing numbers, which beat estimates of 91,000 from several combined analysts.
For us here at InsideEVs, we mostly focus on the sales side of the report, so let's dive right in.
Tesla reported a total of approximately 95,200 vehicles delivered globally in Q2 2019. The automaker breaks this down for us as follows:
As Tesla states:
In the second quarter, we achieved record production of 87,048 vehicles and record deliveries of approximately 95,200 vehicles.
On the production front, the numbers are 72,531 for the Model 3 and 14,517 for the Model S and X combined. Total production hit 87,048 in Q2.
Read Tesla's Q2 release in its entirety below:
Tesla Q2 2019 Vehicle Production & Deliveries
PALO ALTO, Calif., July 02, 2019 (GLOBE NEWSWIRE) -- In the second quarter, we achieved record production of 87,048 vehicles and record deliveries of approximately 95,200 vehicles. In addition, we made significant progress streamlining our global logistics and delivery operations at higher volumes, enabling cost efficiencies and improvements to our working capital position.
Production Deliveries Model S/X 14,517 17,650 Model 3 72,531 77,550 Total 87,048 95,200
Orders generated during the quarter exceeded our deliveries, thus we are entering Q3 with an increase in our order backlog. We believe we are well positioned to continue growing total production and deliveries in Q3.
Customer vehicles in transit at the end of the quarter were over 7,400. Due to the order-to-VIN matching process we described in our Q1 2019 Shareholder Letter, which we extended to Model S and Model X in Q2 to improve process efficiency, this metric has become less relevant. As a result, we do not plan to disclose the customer vehicles in transit metric going forward.
Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q2 earnings. 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. We count a produced but undelivered vehicle to be in transit if the related customer has placed an order or paid the full purchase price for such vehicle. Final numbers could vary by up to 0.5% or more. 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.
Certain statements herein, including statements regarding expected future vehicle deliveries and production, are “forward-looking statements” that are subject to risks and uncertainties. These forward-looking statements are based on management’s current expectations. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.