Daily Management Review

Tesla Motors set a sales record in the III quarter


In the III quarter, American carmaker Tesla Motors Co. sold 24.5 thousand electric vehicles, which is 70% more than in the II quarter, and twice more than in the III quarter of 2015 (11.58 thousand cars). The last quarter was a record for Tesla in terms of sales.

Jeff Cooper
Jeff Cooper
In III quarter, the company sold 15.8 thousand Model S (sedan) cars, and 8.7 thousand Model X (crossover) cars. More about 5 thousand electric cars were yet to be delivered to customers, so they will be taken into account in the index for the IV quarter. Tesla intends to produce 50 thousand vehicles in the second half of the year.

Meanwhile, production in the III quarter increased by 37% as compared with the II quarter to 25,185 cars.

According to Tesla’s estimations, sales and production volumes in the IV quarter will exceed the III quarter performance, even though the IV quarter has fewer working days.

In addition, Tesla informed investors that, starting from III quarter, the company does not intend to include non-GAAP calculated figures for revenue and other indicators in the financial statements.

Tesla’s sales are growing much faster than that of Ford or General Motors, but volume of supply continues to fall short of Tesla’s forecasts.

However, quarterly results show that the first fatal accident with an auto piloted Tesla has not affected sales. In June, electronics in one of Tesla car malfunctioned, and the car crushed into a truck. The driver died at the scene.

Now the autopilot cannot completely control a vehicle without a driver. A self-driving Tesla can change lanes and respond to changing situation on the road.

In August, Tesla suffered a loss of $ 293 million, the company has been losing money for 13 consecutive quarters. At that, revenue in the II quarter has increased by 33% to $ 1.27 billion.

In July, Tesla’s founder Elon Musk unveiled a new long-term development plan. According to him, in 2017 the company should present its first truck and a model of urban transport
In the coming years, Tesla plans to cover most of the consumer segments of the automotive market, and in 2017, the company will introduce its first truck and bus. It is stated in the plan drawn up by Elon Musk.

According to Musk, the electric cars market needs to get two more electric vehicles: a truck and a model of urban transport. At present, projects of these vehicles are under development and will be presented next year, says the billionaire.

According to the creator of Tesla, advent of self-driving cars would inevitably reduce size of buses and shift the system from human drivers to management of the entire fleet. According to him, new models of public transport will be able to take passengers all the way to the end point; they could be called via mobile phone or a button at the bus stop. These buses could carry wheelchairs, buggies and bikes, says Musk.

source: wsj.com