Record production and sales suggest no more high losses in Q2 2019

In the second quarter of 2019 Tesla managed to achieve all-time record production and delivery numbers of electric cars.

Deliveries amounted to 95,200, which is 134% more than a year earlier and almost 5% better than the previous record in Q4 (final numbers could vary by up to +0.5%). Additionally over 7,400 customer vehicles at the end of the quarter were in transit.

Production amounted to 87,048 (up 63% year-over-year) and few hundred above Q4 record.

    Production Deliveries  
  Model S/X 14,517 17,650  
  Model 3 72,531 77,550  
  Total 87,048 95,200  

One of the most important things is that demand for Tesla electric cars is increasing as despite record production and sales, the company started Q3 with a higher number of orders than Q2.

"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."

Tesla Model S/X/3 Deliveries (quarterly) – through June 2019

 

Deliveries in the U.S. (53,975 estimated) accounted for 57% of overall volume.

 

Tesla already sold almost 700,000 electric cars and expects to reach 1 million in early 2020.

 

Deliveries by model:

  • Model 3: 77,550 (up 320%)
  • Model S/X: 17,650 (down 21%)
 
 

Production numbers

Tesla produced around 87,048 electric cars in Q2 (up 63% year-over-year), including:

  • Model 3: 72,531 (new record, up 154%)
  • Model S/X: 14,517 (down 41%)
 
 

As you can see, deliveries and production of the Model S and Model X are significantly decreasing, but overall results are positive and hopefully, the S/X will back to growth with next-generation versions expected later this year.

 

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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.