ev-enthusiast
Active Member
Vehicles delivered during Q3 and in transit at end of Q3 add up to 30 000 vehicles.
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PALO ALTO, CA -- (Marketwired) -- 10/02/16 -- Tesla (NASDAQ: TSLA) delivered approximately 24,500 vehicles in Q3, of which 15,800 were Model S and 8,700 were Model X. This was an increase of just over 70% from last quarter's deliveries of 14,402. Our Q3 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.
In addition to Q3 deliveries, about 5,500 vehicles were in transit to customers at the end of the quarter. These will not be counted as deliveries until Q4.
In addition to Q3 deliveries, about 5,500 vehicles were in transit to customers at the end of the quarter. These will not be counted as deliveries until Q4.
Many TMC estimates were overly optimistic as usual, but this is a huge beat compared to analyst expectations. Looking forward to tomorrow.
Wow, I hope you guys didn't miss the little tidbit at the end of the PR that says Q4 should be the same or slightly above despite being shorter. At this point I think Wall Street will be shocked that we can keep the 80k guidance.
SebastianR
Active Member
Does this:
Mean that they are GAAP positive? Or ist this just wishful thinking?
Mean that they are GAAP positive? Or ist this just wishful thinking?
I'll be shocked if SA doesn't try to say the sales numbers were inflated by CPO sales. 
1) CPO sales usually have higher margins.
2) There were maybe a max of 500-1000 inventory vehicles.
3) No matter how you look at it, 30,000 vehicles in one quarter (including vehicles in transit) is a gigantic accomplishment.
1) CPO sales usually have higher margins.
2) There were maybe a max of 500-1000 inventory vehicles.
3) No matter how you look at it, 30,000 vehicles in one quarter (including vehicles in transit) is a gigantic accomplishment.
hockeythug
Active Member
Prolly tired of answering questions about it and that they ended the resale value guarantee.
SebastianR
Active Member
Could be. And yet, a GAAP positive quarter could be a nice start to end the Non-GAAP reporting...
Ok so this may be even more important: I understand the buyback guarantee is technically responsible for this, but would they completely get rid of the non-GAAP part of the ER right now, if they only reached non-GAAP profit? I think not. As much as they want to show profit in Q3, they would still keep it around to find a metric that allows them to show that in lieu of actual GAAP profit.
So i think this pretty much foreshadows we got GAAP profit in Q3:
"Finally, we note that starting in Q3, our quarterly financial releases will no longer include non-GAAP revenue and related financial metrics resulting from vehicles leased through our banking partners or that include resale value guarantees. We will, however, continue to provide additional supplemental information to investors to provide insights into our business."
EDIT: i see some of you beat me to it, haha.
So i think this pretty much foreshadows we got GAAP profit in Q3:
"Finally, we note that starting in Q3, our quarterly financial releases will no longer include non-GAAP revenue and related financial metrics resulting from vehicles leased through our banking partners or that include resale value guarantees. We will, however, continue to provide additional supplemental information to investors to provide insights into our business."
EDIT: i see some of you beat me to it, haha.
MartinAustin
Active Member
I feel better about the annual guidance now.
If there are 5,500 cars in transit, it means they only have to produce what, 22,000 cars (and get them delivered).
Foe the delivery department, starting with a backlog of 5,500 cars and being able to ease off at the end of the year is a great match-up with what the production department is doing, since they kinda stop in the last week of the year.
If there are 5,500 cars in transit, it means they only have to produce what, 22,000 cars (and get them delivered).
Foe the delivery department, starting with a backlog of 5,500 cars and being able to ease off at the end of the year is a great match-up with what the production department is doing, since they kinda stop in the last week of the year.
Might... No point in putting it into the press release otherwise, is there?
Edit: No, I didn´t read @cluster ´s post before I wrote this, I swear
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No draw down in inventory in transit. Could easily have been higher then, and Q4 might get that bump. Production is supposed to move beyond 2,200 a week, we will see if they can meet that.
TrendTrader007
Active Member
High transit number suggests to me that production ramped significantly towards the end of quarter. That should make it easier to meet guidance in Q4 if we are now at a high production point and not much more ramp needed.
My guess is that they were not at 2000 consistently at start of Q3, and now they are well over 2000 (2200?). Makes production and delivery target for Q4 more believable even though less weeks available in the quarter.
My guess is that they were not at 2000 consistently at start of Q3, and now they are well over 2000 (2200?). Makes production and delivery target for Q4 more believable even though less weeks available in the quarter.
electricity
Member
I'm at the point where it makes me more happy to see the shorts and haters get screwed than the stock going up.
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