cash sufficient, 2019 guidance reaffirmed Tesla 股东 HOLD# Stock
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cash sufficient, 2019 guidance reaffirmed Tesla 股东 HOLD ON
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Tesla Q1 2019 Vehicle Production & Deliveries
PALO ALTO, Calif., April 03, 2019 (GLOBE NEWSWIRE) -- In the first quarter,
we produced approximately 77,100 total vehicles, consisting of 62,950 Model
3 and 14,150 Model S and X.
Deliveries were approximately 63,000 vehicles, which was 110% more than the
same quarter last year, but 31% less than last quarter. This included
approximately 50,900 Model 3 and 12,100 Model S and X.
Due to a massive increase in deliveries in Europe and China, which at times
exceeded 5x that of prior peak delivery levels, and many challenges
encountered for the first time, we had only delivered half of the entire
quarter’s numbers by March 21, ten days before end of quarter. This caused
a large number of vehicle deliveries to shift to the second quarter. At the
end of the first quarter, approximately 10,600 vehicles were in transit to
customers globally.
Because of the lower than expected delivery volumes and several pricing
adjustments, we expect Q1 net income to be negatively impacted. Even so, we
ended the quarter with sufficient cash on hand.
In North America, Model 3 was yet again the best-selling mid-sized premium
sedan, selling 60% more units than the runner up. Inventory of Model 3
vehicles in North America remains exceptionally low, reaching about two
weeks of supply at the end of Q1, compared to the industry average of 2-3
months.
Despite pull forward of demand from Q1 2019 into Q4 2018 due to the step
down in the federal tax credit, US orders for Model 3 vehicles significantly
outpaced what we were able to deliver in Q1. We reaffirm our prior guidance
of 360,000 to 400,000 vehicle deliveries in 2019.
Given that Tesla vehicle production currently occurs entirely from one
factory in the San Francisco Bay Area, but must be delivered to customers
all around the world, production could be significantly higher than
deliveries, as it was this quarter, when production exceeded deliveries by
22%.
We’ve just begun the global expansion of Model 3, and we want to thank our
employees for their hard work and our customers for supporting our mission.
We are doing everything we can to deliver cars globally as quickly as
possible and look forward to continuing to scale deliveries throughout the
year.
-------------------------------------
Tesla Q1 2019 Vehicle Production & Deliveries
PALO ALTO, Calif., April 03, 2019 (GLOBE NEWSWIRE) -- In the first quarter,
we produced approximately 77,100 total vehicles, consisting of 62,950 Model
3 and 14,150 Model S and X.
Deliveries were approximately 63,000 vehicles, which was 110% more than the
same quarter last year, but 31% less than last quarter. This included
approximately 50,900 Model 3 and 12,100 Model S and X.
Due to a massive increase in deliveries in Europe and China, which at times
exceeded 5x that of prior peak delivery levels, and many challenges
encountered for the first time, we had only delivered half of the entire
quarter’s numbers by March 21, ten days before end of quarter. This caused
a large number of vehicle deliveries to shift to the second quarter. At the
end of the first quarter, approximately 10,600 vehicles were in transit to
customers globally.
Because of the lower than expected delivery volumes and several pricing
adjustments, we expect Q1 net income to be negatively impacted. Even so, we
ended the quarter with sufficient cash on hand.
In North America, Model 3 was yet again the best-selling mid-sized premium
sedan, selling 60% more units than the runner up. Inventory of Model 3
vehicles in North America remains exceptionally low, reaching about two
weeks of supply at the end of Q1, compared to the industry average of 2-3
months.
Despite pull forward of demand from Q1 2019 into Q4 2018 due to the step
down in the federal tax credit, US orders for Model 3 vehicles significantly
outpaced what we were able to deliver in Q1. We reaffirm our prior guidance
of 360,000 to 400,000 vehicle deliveries in 2019.
Given that Tesla vehicle production currently occurs entirely from one
factory in the San Francisco Bay Area, but must be delivered to customers
all around the world, production could be significantly higher than
deliveries, as it was this quarter, when production exceeded deliveries by
22%.
We’ve just begun the global expansion of Model 3, and we want to thank our
employees for their hard work and our customers for supporting our mission.
We are doing everything we can to deliver cars globally as quickly as
possible and look forward to continuing to scale deliveries throughout the
year.