Tesla said Friday it was able to deliver 139,300 vehicles during the last quarter, smashing its previous record for deliveries, of 112,000 cars. It was also slightly better than Wall Street expectations of 137,000 vehicles for the quarter. The company said it produced a total of 145,036 vehicles over the same period.
This was the third consecutive quarter of better-than-expected delivery numbers from Tesla. The company delivered 88,400 vehicles in Q1 of 2020, down from the fourth quarter of 2019, when Tesla shipped around 112,000 vehicles. And it sent out 90,650 vehicles in Q2, despite its Fremont, California, factory being partially shut down due to the coronavirus pandemic. Tesla said it delivered 124,100 of its Models 3 and Y vehicles and 15,200 of its Models S and X vehicles.
Tesla has said it expects to deliver 500,000 vehicles in 2020
Tesla has said it expects to deliver 500,000 vehicles in 2020, or a 36 percent increase over 2019. But so far the company has only sent out 318,350 cars to customers, meaning it would need a blowout fourth quarter of 181,650 deliveries to meet that goal.
The delivery numbers were released a week after Tesla’s battery day, in which CEO Elon Musk outlined the company’s plans to manufacture its own batteries, mine its own raw materials, and lower the cost of production in the hopes of building a $25,000 electric car. Shares of the company dropped after the event based on Musk’s predictions that many of these gains were still years away.
Tesla’s share price fell further on Friday amid a broader market sell-off on the news that President Donald Trump had tested positive for COVID-19.