Tesla has just released some record-crushing numbers. Record production and record deliveries.
However, at 97,000, the delivery figure falls just short of the median estimate of 98,250 from several combined analysts, though we should note that the Factset usually uses 10-12 analyst estimates to create consensus, whereas more than 20 analysts actually cover Tesla (see the full consensus figures here).
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 97,000 vehicles delivered globally in Q3 2019. The automaker breaks this down for us as follows:
As Tesla states:
In the third quarter, we achieved record production of 96,155 vehicles and record deliveries of approximately 97,000 vehicles.
On the production front, the numbers are 79,837 for the Model 3 and 16,318 for the Model S and X combined. Total production hit 96,155 in Q3.
Read Tesla's Q3 release in its entirety below:
Tesla Q3 2019 Vehicle Production & Deliveries
PALO ALTO, Calif., Oct. 02, 2019 - In the third quarter, we achieved record production of 96,155 vehicles and record deliveries of approximately 97,000 vehicles.
Production Deliveries Subject to lease accounting Model S/X 16,318 17,400 15 % Model 3 79,837 79,600 8 % Total 96,155 97,000
In addition, we achieved record net orders in Q3 and are entering Q4 with an increase in our order backlog. 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.
Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q3 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. 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.