Tesla reports record first quarter production and delivery numbers

[Shawn Knight]

What just happened? Tesla this week reported its best ever first quarter performance as the electric automaker produced 102,672 vehicles during the three-month period ending March 31, 2020. The electric automaker’s numbers could have been even higher had it not been for Covid-19-related issues that impacted production at its Fremont, California, manufacturing facility in March.

Of those, the majority – 87,282 – were Model 3 and Model Y vehicles while the remaining 15,390 were Model S and Model X vehicles. Worth noting is the fact that Tesla’s Model Y crossover only entered production in January with the first deliveries taking place in mid-March, some six months ahead of schedule.

Tesla during the period delivered 88,400 vehicles, a number it said is slightly conservative as they only count a vehicle as delivered if it has transferred to the customer and all paperwork is correct.

Tesla further cautioned that vehicle deliveries represent just one of many measures of the company’s financial performance and should not be relied upon as a sole indicator of quarterly financial results.

Tesla’s stock shot up on the news in after-hours trading and is currently up more than nine percent on the day.

TrueCar, an automotive pricing and information website, estimates that in March 2020, US auto sales dropped by more than a third compared to the same period a year ago due to the virus.

Masthead credit: Hadrian

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https://www.techspot.com/news/84687-tesla-reports-best-ever-first-quarter-production-delivery.html

 

[Uncle Al]

And with all of that it's still a way over priced vehicle that failed to live up to Musk's promises years ago .....

 

[QuantumPhysics]

I was preparing to sell my Tesla stock when it hit $1000, but Coronavirus cut off its momentum at around $930.

It's still $487 (currently) which is way up from where I bought in, but it will take a while to get back to the highs.

You should buy in if you can.

The Model 3 and Model Y are gonna push Tesla past $1000.

 

[QuantumPhysics]

And with all of that it's still a way over priced vehicle that failed to live up to Musk's promises years ago .....

Back in 2012, I was invited to test the Model S p85. I liked it a lot and decided to invest. We were promised a 40KWh battery which would bring the car's cost down to $60,000. That never happened and the car's cost gradually rose from $70,000 to $90,000 with the desired equipment.

The Model 3 and Model Y, however, are delivering on the promises wherein the Model S and X didn't.

Those cars are selling very well, almost ubiquitous and mark a great future for Tesla.

My problem however is that the interiors are cheap and bland while the lease deals don't make much sense.

 

[p51d007]

EVERY corporation, will in some way, blame failure on this Chinese virus. No matter if it
is related or not.

 

[QuantumPhysics]

EVERY corporation, will in some way, blame failure on this Chinese virus. No matter if it
is related or not.

That may be true.

But the question you need to ask yourself is: how can you capitalize on it?

Take a look at the Airlines, Auto makers and cruise line's stock now.

 

[VitalyT]

An electric hearse would sell better.

 

[yeeeeman]

EVERY corporation, will in some way, blame failure on this Chinese virus. No matter if it
is related or not.

If your employees need to stay at home because of temporary laws, how is that not true?

 

[captaincranky]

An electric hearse would sell better.

Perhaps, but likely we'd all be dead before Musk was able to bring it to market.

The Shire horse always knew the way to the cemetery. So, there you have the original "autonomous vehicle". Consequently, it didn't matter if the wagon driver passed on from the plague on the way...

 

[sreams]

And with all of that it's still a way over priced vehicle...

Not sure how that claim can be made while the Model 3 is far outselling every other car in its class/price range. The right price isn't what one person thinks it should be. It's what the market is willing to pay.

 

[Lounds]

I was preparing to sell my Tesla stock when it hit $1000, but Coronavirus cut off its momentum at around $930.

It's still $487 (currently) which is way up from where I bought in, but it will take a while to get back to the highs.

You should buy in if you can.

The Model 3 and Model Y are gonna push Tesla past $1000.

Keep drinking the kool aid.
Once the big boys get into production Tesla stock will drop due to increased EV competition. VW starting their role out of the ID.3 this year in Europe, if successful this will push Ford and the rest to start ramping their production.

 

[QuantumPhysics]

Keep drinking the kool aid.
Once the big boys get into production Tesla stock will drop due to increased EV competition. VW starting their role out of the ID.3 this year in Europe, if successful this will push Ford and the rest to start ramping their production.

aha hah

yeah sure.