Tesla could hit 'record deliveries' this quarter, according to leaked email

Andrew Cummings
September 21, 2020

It's also important that we keep factory production as high as possible for the remaining 10 days.

Karnataka, which houses electric vehicle companies like Mahindra Electric, Daimler, Bosch, Ola Electric, Sun Mobility and Ather, was the first state to come up with an electric vehicle policy, hoping to generate investments of Rs 31,000 crore in EV R&D and manufacturing.

The quarter-end rallying cry has become a familiar theme in recent quarters at Tesla.

Tesla delivery analyst Troy Teslike, whose estimates were 98.6% accurate in the second quarter, now expects the electric auto maker to deliver about 144,000 vehicles in Q3 2020. How COVID-hit Tesla vehicle factories in the USA and China can recover quickly enough to break the record is open to debate.

Tesla's previous record deliveries were at 112,000 vehicles that were all delivered during the previous fourth quarter of 2019. Considering that the company only delivered 88,496 vehicles in Q1 and 90,891 cars in Q2, Tesla would have to deliver north of 140,000 vehicles in the third quarter to get a clear shot at 500,000 deliveries. Over the years, there have been times when the company ends up handing over about 30% of its total vehicle deliveries in the final weeks of a quarter.

Analysts, including those with neutral ratings on Tesla's stock, expect major advances from Musk. And even if Tesla hits more than 140,000 cars in Q3 2020, the company would have to deliver about 180,000 vehicles in the fourth quarter to hit its goal.

Musk earlier suggested that Tesla may be able to mass produce longer-life batteries with 50 per cent more energy density in a couple of years.

A much hyped "Autonomy Investor Day" in April in 2015 stopped working to stop a five-month decrease in the business's stock. At that 2019 event, Musk said that Tesla robotaxis with no human drivers would be available in some US markets in 2020, continuing a habit of making bold pronouncements and setting deadlines Tesla does not meet.

Cowen expert Jeffrey Osborne stated in a current customer note he anticipates Tesla to reveal it is bringing battery cell production in-house, and for Musk to focus on work done on "million mile" batteries. The letter also comes ahead of the company's annual shareholder meeting on September 22 and its first-ever highly anticipated "Battery Day" for investors.

The Wall Street pencil-pushers might have a point.

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