Tesla has reported Q2 output and delivery numbers that show record quarterly production of 87,048 vehicles and record quarterly deliveries of approximately 95,200 vehicles. In addition, it said the company made significant progress streamlining global logistics and delivery operations at higher volumes, enabling cost efficiencies and improvements to its working capital position.
Investors were cheered by the news, with the long-depressed Tesla share price perking up.
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Tesla also said orders generated during the quarter exceeded deliveries, meaning the company is entering Q3 with an increase in its order backlog. It said: “We believe we are well positioned to continue growing total production and deliveries in Q3.”
The Q2 delivery numbers represent something of a rebound from the 63,000 in Q1 when the company was struggling to deliver its Model 3 in markets around the world.
The company also said that its delivery count should be “viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct”. Final numbers could vary by up to 0.5% or more.
At the end of the first quarter Tesla said logistics difficulties meant a large number of deliveries were shifted to the second quarter, affecting the first quarter’s net income as Tesla could not get the vehicles to customers in time. Tesla reported a loss of US$702m in Q1.
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By GlobalData
