Tesla's Model 3 Production For Q3 Matches Previous Two Quarters COMBINED

A source familiar with the matter has told Electrek that Tesla produced a record ~80,000 vehicles this quarter.

This level of production is unprecedented for the automaker, but deliveries could turn out to be even crazier.
We have been tracking Tesla’s production over the past few weeks of this critical period as the company is attempting to become profitable.

Friday, we published our latest report showing that Tesla achieved its Model 3 production goal for a record quarter with just over 2 days still to go.

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SanJoseDriver - 10/1/2018 12:30:36 PM

-3 Boost

We'll see, but I think that is highly unlikely at this point.

mre30 - 10/2/2018 8:16:34 AM

+6 Boost

Did Tesla ever replace their "Chief Accounting Officer" (i.e. the person who is personally responsible for the accuracy of the numbers in Tesla's financial statements) who quit two months ago after a few weeks on the job? It is usually a TERRIBLE SIGN when the CAO quits after a short time at a new company.

I'm not implying anything, but let me introduce a new definition = "Window Dressing"

Window dressing refers to actions taken or not taken prior to issuing financial statements in order to improve the appearance of the financial statements.

Here is an example of window dressing. A company operates throughout the year with a negative balance in its general ledger Cash account. (Its balance at the bank is positive due to the time it takes for its checks to clear its bank account.) Since the financial statements report the Cash amount appearing in its general ledger account, the financial statements would report a negative amount of Cash. However, the company does not want its December 31 balance sheet to report a negative cash balance, since it will be reviewed by many outsiders. To avoid reporting a negative cash balance the company does not make the payments for amounts that should be paid between December 26 and December 31. This postponement of payments allows its book amount of Cash to temporarily be a positive amount. Then on January 2, the company issues checks for all of the amounts that normally would have been paid at the end of December.

#Enron2.0

zlives - 10/1/2018 5:06:11 PM

+3 Boost

well, thats good news. still want to know if they have matched the deliveries or is this production sans wheels.

SanJoseDriver - 10/2/2018 11:03:38 AM

0 Boost

Official numbers are in:

80,000 cars produced in Q3
83,500 cars DELIVERED in Q3 (55,840 Model 3, 14,470 Model S, 13,190 Model X)

runninglogan1 - 10/1/2018 7:58:11 PM

+1 Boost

Model 3 is selling like hotcakes!

CANADIANCOMMENTS - 10/1/2018 9:39:11 PM

+1 Boost

The stock jumped today as well. Investors are happy with this news as well as Musk staying with the firm but not being Chairman for much longer.

supermoto - 10/2/2018 11:53:10 AM

+2 Boost

- 4k a week production rate for Model 3 (20% below 5k a week). And this is production, NOT sales.

- Model S and Model X demand flat vs. 2 years ago.

- No mention of profitability or anything good to report about cash.

So even when pulling out all the stops Telsa still is in a terrible financial position.