Tesla (TSLA) hit record delivery volumes last week, according to sources familiar with the matter, as quarterly delivery expectations are climbing to record highs.
Last weekend, Tesla CEO Elon Musk thanked his team for “great work on deliveries”:
Thanks to the Tesla team for the great job on deliveries! For the new owners, we really appreciate having accommodated on delivery times! Certainly one of our toughest neighborhoods in global logistics.
We now learn that it was in reference to Tesla reaching a record volume of deliveries during the week, according to sources familiar with the matter.
It came after Musk emailed employees during the previous week to inform them that record deliveries for the quarter were achievable, but they needed to provide “as many vehicles per day as we would ever have to deliver.”
Although the total number of deliveries during the quarter is still unknown, it appears Tesla may have met Musk’s target.
Wall Street has high expectations with a consensus delivery estimate of around 140,000 vehicles, up from 123,000 a few weeks ago.
Tesla is expected to release the third quarter delivery and production results by the end of the week.
I am a little confused about this quarter. Most delivery estimates are between 135,000 and 145,000 vehicles and appear to be based on what Tesla needs to keep up with its 500,000 target full-year deliveries.
However, Elon indicated that he had “a hit to the fourth record for deliveries. “
Considering Tesla’s latest record deliveries were 112,000 vehicles, it would be closer to that range this quarter.
However, as I mentioned in my previous email article, Elon always leaves room for interpretation in those emails for all employees.
It could have meant deliveries to the United States or North America just as some have interpreted it, but the email was sent to all employees globally and in previous similar emails it referred to Tesla’s global deliveries.
Now, “a hit to the fourth record for deliveries“It’s vague on its own, and Tesla may even end up beating him more.
I think that’s a better chance than he intended delivery to North America or the United States, especially if Tesla hit its target last week with record delivery volumes.
That would give them four more days to break the latest quarterly delivery record and that would bring them much closer to 140,000 deliveries.
But again, we don’t even know it’s necessarily true.
Personally, I think Wall Street is a little too optimistic here. I will remain aloof on this.
What do you think? Let us know in the comments section below.
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