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Report: Tesla Is Short Of Q3 Vehicle Delivery Target

Tesla

Tesla is “a few thousand” vehicles behind an unofficial target that Elon Musk set to deliver a record 100,000 electric cars in the third quarter, with just a day left until Q3 ends, Electrek reported on Monday, citing sources.

Last week, Electrek reported that a Musk email to employees said that Tesla could have a chance to make 100,000 deliveries in the third quarter.

“We have a shot at achieving our first 100,000 vehicle delivery quarter, which is an incredibly exciting milestone for our company!” Musk wrote in the email that Electrek has obtained.

Tesla’s chief executive told employees in the email that the net orders for the quarter of the electric vehicle maker were “tracking to reach about 110,000.”  

Tesla has some inventory but the challenge for delivering 100,000 EVs in the third quarter would be to match the right vehicle variants to the specific customer orders, Musk has reportedly said.

“The challenge is making sure that we have the right car variants in the right locations and rallying as much as our company resources as possible to help with the end of the quarter deliveries,” Tesla’s boss said, according to Electrek.

With a day left until Q3 ends, Tesla’s management told employees last night that the EV maker is “a few thousand” cars behind schedule to hit 100,000 deliveries, sources told Electrek.

According to those sources, in North America alone, Tesla has around 3,000 in inventory, but again, the challenge will be to match variants to customer orders.

Tesla is expected to report its Q3 delivery numbers later this week.

In Q2, the EV maker surprised the market and analysts as it beat expectations for deliveries.

Despite reports that it won’t be able to meet Musk’s goal for record production and sales for Q2, Tesla said in early July that it achieved record production of 87,048 vehicles and record deliveries of around 95,200 vehicles, beating analyst expectations, sending the stock rallying 7 percent on the next day, and giving Tesla bulls new hope.

By Tsvetana Paraskova for Oilprice.com

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