Tesla’s Model 3 Deliveries Surpass Predictions
Tesla has accelerated and overtaken expectations with their recent delivery performance of the Model 3.
Despite initial setbacks, Tesla’s delivery numbers for the Model 3 in the second quarter exceeded Wall Street estimates. While Wall Street anticipated around 73,000 Model 3 deliveries, Tesla successfully delivered over 77,000 Model 3 vehicles and a total of more than 95,000 vehicles overall. This achievement surpassed the company’s previous record of 90,700 deliveries in the final quarter of 2018. It was crucial for Tesla to meet this milestone following a challenging performance in the first quarter. Though the first quarter did not witness a significant decline in production or orders, there was a noticeable drop in deliveries. With a reported $700 million loss in the first quarter, skepticism surrounded CEO Elon Musk’s assertion that the second quarter could achieve a record-breaking delivery number.
Tesla had previously announced that new orders for the second quarter had already surpassed deliveries, indicating a promising path towards profitability for the company. Their current objective is to achieve profitability in 2019, a target set for the second half of the year. To attain this goal, Tesla aims to deliver between 360,000 and 400,000 vehicles throughout the year. While many analysts view this target as ambitious, Tesla remains positive as it strives to recover from the challenges of the first quarter. In a statement made on Tuesday, Tesla expressed confidence in their ability to sustain growth in total production and deliveries in the third quarter.
