Q2 2019: Tesla

[Drew Dowdell]

PALO ALTO, Jul 02, 2019 (GLOBE NEWSWIRE via COMTEX) -- 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

[smk4565]

Tesla is putting up some big numbers.  Nearly 25,000 Model 3 a month is nearing Camry/Accord numbers.

[G. David Felt]

Glad to hear they are doing well, hopefully they can get to sustained profitability.

Need to get those X, S model updates out and the CUV off the 3.

Style still leaves much to be desired for me.

[balthazar]

Model 3 is doing decent, but Model S is only averaging 1200/mn, Model X 1500/mn. 
The pace is 160K/yr, but they were supposed to be at 500K/yr this year.