Tesla 2nd quarter deliveries

Tesla 2nd quarter deliveries DEFAULT

Tesla delivered , vehicles in the second quarter of , a record for the company but still falling slightly short of Wall Street expectations. Elon Musk’s company also produced , vehicles during the same period.

Of all the cars that Tesla produced during the quarter, the vast majority — , — were Model 3 and Model Y vehicles. On top of that, Tesla also produced 2, Model S and Model X vehicles — though the company did not break out how many Model S sedans were the high-end Plaid variant that just started reaching customers.

Earlier last month, Tesla held a delivery event for the redesigned Model S, featuring a new powertrain, more horsepower, a new landscape touchscreen and steering wheel, and more range. A Model S Plaid recently caught fire in Pennsylvania, briefly trapping the driver inside.

The second quarter delivery numbers broke the previous quarter’s record, when Tesla delivered nearly , vehicles. Tesla has been ramping up production capacity, including building new factories in Texas and Germany, and just nearly missed CEO Elon Musk’s goal of delivering , cars in

Tesla does not break out deliveries by region, so we don’t know how many vehicles the company is sending to customers in China. Tesla has been hit by a slate of bad news in the country, most recently announcing the recall of more than , vehicles —most of which were made locally— over a safety risk with the vehicles’ cruise control.

Like the rest of the auto industry, Tesla has also struggled with the parts shortage, including a dearth of semiconductors. In May, Musk tweeted that prices were increasing as a result of “supply chain price-pressure industry-wide [sic].”

The second quarter also saw the departure of several high-level Tesla executives, including former long-time acting general counsel Al Prescott in April, and both deputy general counsel Lynn Miller and former president of automotive and heavy trucking Jerome Guillen in June.

Sours: https://www.theverge.com//7/2//tesla-qdeliveries-elon-musk

Tesla delivers more than , vehicles in a quarter for the first time

During the second quarter, Tesla was affected by parts shortages and price increases that plagued automakers generally. CEO Elon Musk said in a tweet on May 31 that Tesla had made some design decisions in part to cope with rising costs, and said price increases on Tesla vehicles were "due to major supply chain price pressure industry-wide. Raw materials especially."

The company also began deliveries of its higher-end Model S electric sedans during the second quarter. In its classic mode, Tesla held a flashy event at its test track in Fremont to kick off deliveries of the Model S Plaid, a tri-motor version of its flagship sedan marketed as the quickest production car ever made.

On June 11, Musk said "should be at several hundred cars per week soon," but would not be producing thousands of Model S vehicles per week until next quarter.

During the second quarter, Tesla also saw the departure of execs, including former longtime acting general counsel Al Prescott in April, and both deputy general counsel Lynn Miller and former president of automotive and heavy trucking Jerome Guillen in June.

Correction: This story was updated to use StreetAccount estimates for deliveries, which are based on a broader number of analyst estimates than the FactSet estimates originally included.

Sours: https://www.cnbc.com//07/02/tesla-tsla-qvehicle-production-and-delivery-numbers.html
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The second quarter of was Tesla's best quarter ever. The company, for the very first time, produced and sold (globally) more than , electric cars and achieved a record high profitability.

The final sales numbers are slightly higher than in the preliminary report (the production numbers have not changed).

"In the second quarter of , we broke new and notable records. We produced and delivered over , vehicles, achieved an operating margin of % and exceeded $1B of GAAP net income for the first time in our history."

Let's take a look at the details and then check out the outlook.

Quarterly results

  • Total production: , (up % year-over-year)
    • Model 3/Y production: , (up % year-over-year)
    • Model S/X production: 2, (down 63% year-over-year)
  • Total deliveries: , (up % year-over-year)
    • Model 3/Y deliveries: , (up % year-over-year)
    • Model S/X deliveries: 1, (down 82% year-over-year)
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The important thing is that despite the record rate of production, the global vehicle inventory (days of supply) remains at a very low level of just 9 days! That's a clear sign that there is tremendous demand for Tesla cars.

"Supply chain challenges, in particular global semiconductor shortages and port congestion, continued to be present in Q2. The Tesla team, including supply chain, software development and our factories, worked extremely hard to keep production running as close to full capacity as possible. With global vehicle demand at record levels, component supply will have a strong influence on the rate of our delivery growth for the rest of this year."

"Public sentiment and support for electric vehicles seems to be at a never-before-seen inflection point. We continue to work hard to drive down costs and increase our rate of production to make electric vehicles accessible to as many people as possible."

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Another look:

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The month rolling deliveries are now above ,

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99% of Tesla's sales are Model 3 and Model Y. The company doesn't break sales down between the individual models.

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The Model S/X deliveries decreased in Q2 compared to Q1, but we must remember that in Q1 only the last units of the outgoing version were sold.

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Cumulatively, Tesla sold almost million electric cars, including over , Model S/X and over million Model 3/Model Y. 2 million willo be reached this quarter.

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Tesla expects that the long-term average annual growth of vehicle deliveries will be at around 50%:

"We plan to grow our manufacturing capacity as quickly as possible. Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries. In some years we may grow faster, which we expect to be the case in The rate of growth will depend on our equipment capacity, operational efficiency, and the capacity and stability of the supply chain."

In , the company sold about , electric cars, which means that the base for is significantly more than ,

So far this year, the company already sold over , and is on track to sell more than , in the second half of the year (assuming at least , per quarter). That would bring the total to over ,

Taking into consideration high demand and ongoing expansion of manufacturing capacity, it might be more.

Sours: https://insideevs.com/news//teslaq2-final-delivery-outlook/
Tesla Crushes Q2 Earnings! Top Takeaways From TSLA's Q2-21 Earnings Report

Tesla Q2 deliveries meet analysts' estimates as chip shortage weighs

  • Shares inch up after rising on record vehicle deliveries
  • Musk warned of chip and materials shortages
  • Tesla generates 99% of deliveries from Model 3, Model Y
  • Deliveries of higher priced models fall
  • Eyes are on Q2 earnings

July 2 (Reuters) - Tesla Inc (TSLA.O) on Friday posted record vehicle deliveries for the second quarter that were in line with Wall Street estimates as the electric-car maker coped with a shortage of chips and relied on sales of its cheaper models.

Tesla weathered the global supply crisis better than legacy automakers, but CEO Elon Musk has warned of challenges of securing chips and raw materials.

Now eyes are on its second-quarter earnings to see whether recent drops in bitcoin prices would have an adverse effect on Tesla's bottom line, due to Tesla's exposure to the cryptocurrency's volatility.

Tesla delivered , vehicles in total during the second quarter. Analysts had expected Tesla to deliver , vehicles, according to Refinitiv data.

"It was a solid quarter to volume wise, but I view it as a modest disappointment," Garrett Nelson, an equity analyst at CFRA Research, said.

Shares of the company inched up %, after rising as much as % in early trading on Friday.

"Overall, the bulls are breathing a sigh of relief with these delivery numbers," said Dan Ives, an analyst at Wedbush Securities.

The deliveries of its Model 3 sedans and Model Y crossovers, its two lower priced variants, accounted for 99% of its deliveries, offsetting a drop in deliveries of higher-end Model S and X vehicles.

"Our teams have done an outstanding job navigating through global supply chain and logistics challenges," Tesla said.

Tesla has been raising prices for its vehicles in recent months, which its billionaire boss, Elon Musk, blamed in May on "major supply chain price pressure", especially raw materials. read more

He also said in early June that "Our biggest challenge is supply chain, especially microcontroller chips. Never seen anything like it."

A Tesla supercharger is shown at a charging station in Santa Clarita, California, U.S. October 2, REUTERS/Mike Blake

Brokerage RBC said, "Worst may be over for Tesla" for chip shortage, but added that potential margin impact from broad supply chain tightness could persist through the year.

CHINA, MODEL S PLAID

In China, a major growth market for Tesla, the company is facing large-scale recalls, heightened scrutiny from regulators and the public, as well as rising competition from local EV companies. read more

"The demand issues were in April around China but clearly rebounded in the month of May and June," Ives said.

Tesla sold 21, Model 3 and Model Y cars to Chinese customers in May, rebounding from a sales slump in April, but still well below March numbers. read more Its China sales for June will be released in the coming days.

Tesla saw the deliveries of its Model S and X vehicles slip to 1, during the April to June period, as a new version of its Model S faced delays before its June launch. read more

A Tesla Model S Plaid electric vehicle with a price tag of $,, burst into flames on Tuesday while the owner was driving, just three days after the car was delivered. The owner's lawyer called for the model to be grounded. Tesla did not have an immediate comment when contacted by Reuters. read more

BITCOIN

Sharp drops in bitcoin prices also could weigh down on Tesla's second-quarter earnings, analysts say.

On Feb. 8, Tesla disclosed its bitcoin investment of $ billion. read more Its bitcoin holdings helped generate profits in the first quarter, through the sale of 10% of them.

But the investment is also exposing Tesla stocks to the volatile cryptocurrency prices, which suffered from recent falls.

"Tesla stock price has been pretty closely correlating with the price of bitcoin," Nelson said, adding this hurts investor sentiment despite bitcoin accounting for a small portion of Tesla's overall cash.

Reporting by Hyunjoo Jin in Berkeley, Calif, Akanksha Rana and Subrat Patnaik in Bengaluru ; Editing by Sriraj Kalluvila, Saumyadeb Chakrabarty, Aurora Ellis, and Philippa Fletcher

Our Standards: The Thomson Reuters Trust Principles.

Sours: https://www.reuters.com/business/autos-transportation/tesla-delivers-recordvehicles-q2-beats-analysts-estimates/

Quarter deliveries 2nd tesla

Tesla (TSLA) announces record deliveries in Q2 , electric cars

Tesla has confirmed that it managed to build , vehicles and deliver , electric cars in Q2 – a new record for the electric automaker.

As we previously reported, the expectations for Tesla this quarter were kind of all over the place since it has been known that the company was facing some important supply chain challenges in Q2.

Delays in bringing the new Model S to market created a backlog at the end of the quarter, and on top of that, over 10, vehicles were put on a containment hold in May, which delayed many deliveries until Tesla was able to push its new computer vision system.

It resulted in June and especially the very end of the quarter potentially making a very important difference in the overall delivery results for the quarter.

Lately, Tesla had been breaking new delivery records every quarter, , vehicles were the record last quarter, but some analysts predicted that those issues could result in Tesla delivering fewer vehicles in Q2.

However, the Wall Street consensus was a more optimistic ,vehicle delivered in Q2.

Tesla Q2 delivery and production results

Today, Tesla announced its delivery and production results for the second quarter and confirmed another delivery record of ,

 ProductionDeliveriesSubject to operating lease accounting
Model S/X2,1,18%
Model 3/Y,,7%
Total,,7%

The automaker acknowledged &#;global supply chain and logistics challenges&#; in its brief press release about the results:

&#;In the second quarter, we produced and delivered over , vehicles.  Our teams have done an outstanding job navigating through global supply chain and logistics challenges.&#;

It&#;s the first time Tesla achieved over , vehicle deliveries in a single quarter and the slightly beat Wall Street expectations.

Notably, Tesla managed to deliver 1, new Model S vehicles during the quarter. These are units of the updated version of the electric sedan revealed in January.

Deliveries had been delayed several times before starting just a few weeks before the end of the quarter.

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Sours: https://electrek.co//07/02/tesla-deliveries-q/
Tesla delivers 201,250 vehicles in second quarter

Press Releases

Tesla Q2 Vehicle Production & Deliveries

Business Wire

PALO ALTO, Calif., July 2, – In the second quarter, we produced and delivered over , vehicles.  Our teams have done an outstanding job navigating through global supply chain and logistics challenges.

ProductionDeliveriesSubject to operating lease accounting
Model S/X2,1,18%
Model 3/Y,,7%
Total,,7%

***************

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. Final numbers could vary by up to % 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.

Investor Relations Contact:
[email protected]

Sours: https://ir.tesla.com/press-release/tesla-qvehicle-production-deliveries

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