Tesla Published a Report for the III Quarter of 2019
On Wednesday, October 2, Tesla announced that it delivered around 96,155 cars in the third quarter, including 79,837 Model 3 sedan and 16,318 - Model S and Model X. Analysts FactSet expected the company to sell about 99,000 cars, including 80,200 Model 3. Tesla delivered 84,000 cars, including about 56,000 Model 3 in the third quarter of 2018. The company said it had reached “record” net orders in the third quarter, and they will increase in the current quarter. “We are continuing to focus on increasing production to meet that demand” - Tesla representatives said. Note that the production line at the Tesla Gigafactory 3 plant in Shanghai should start working in the near future, which should help the company fulfill its annual plan. Recall that Gigafactory 3 in Shanghai will produce only Model 3 at first: 150,000 cars a year after the line reaches full capacity. Also, Tesla has already begun preparations for the serial production of Model Y crossovers. Recall that the youngest Model Y crossover was introduced in March, the first copies will be ready in the fall of 2020. Increasing the pace of production at Gigafactory 3 in Shanghai, Tesla plans to reach the annual supply of 500 thousand cars by June 30, 2020. We will find out if Tesla managed to turn to profit after the publication of a detailed report at the end of the month. Recall that the first and second quarters were unprofitable for the company. According to the results of the first half of the year, net losses have already exceeded $1 billion so it is unlikely that the manufacturer will be able to get a plus at the end of the year.