Reuters reports Tesla Deliveries Drop 31 Percent in First Quarter Due to Overseas Shipping Challenges.
Tesla said it had only delivered half of the quarter’s numbers by March 21, with 10,600 vehicles still in transit at the end of the quarter. By comparison, only 1,900 vehicles were in transit at the end of the fourth quarter.
Tesla, whose delivery numbers missed analysts’ expectations, had been expected to post lower deliveries, and it warned in February that it would post a first-quarter loss.
On Wednesday, Tesla said net income in the quarter would be negatively impacted by the lower delivery and recent price cuts.
Tesla delivered 50,900 Model 3s in the quarter, falling short of analysts’ estimates of 58,900, according to IBES data from Refinitiv. Deliveries of all models fell 31 percent from the fourth quarter to 63,000 vehicles, including 12,100 Model S sedans and Model X SUVs.
Total production fell 10.92 percent to 77,100 vehicles from 86,555 vehicles in fourth quarter. The company churned out 62,950 Model 3s, up from a total of 61,394 Model 3s in the fourth quarter.
It would not surprise me in the least that Tesla would mislabel shipments. However, you cannot deliver what you don’t produce.
Production was down. Deliveries must follow production at some point.
After promising no more negative quarters, it took precisely one quarter to prove Musk wrong.
Mike “Mish” Shedlock.
Mish, Walmart carries an iGo 90 watt universal laptop charger kit that comes with 7 or so interchangeable tips. It would work. You should also be able to scale back battery consumption by throttling your processor. Setting would be in battery controls, probably under a performance setting. Good Luck,
Tesla will need a huge infusion of cash to survive. I suspect It will be very bad for equity holders. Cash strapped companies usually have to agree to onerous terms, like forking over a lot of equity, to get loans. They could get bought out, but again, any smart investor will wait until they file before making an offer.
There is only one thing to care about – Is Model 3 profitable or not?
If it is, as per Sandy Munro research, then nothing else matters.
The 3 isn’t one model. Rather, it’s a slew of models. Priced from $35K to $60K or more. The top of the line ones likely profitable, per reasonable means of accounting. The $35K? Not so much.
Tesla has largely been filling orders by starting from the top, price wise. Now that many/most top-of-the-line US orders have been filled, rather than continue with lower priced US trims, they are focusing on top of the line Euro orders. Devoting limited manufacturing resources to where they result in the biggest buck for the bang, so to speak.
Further pushing back the day when they’ll be called on the full brunt of orders for the $35K price they trumpeted. No doubt hoping their costs will have dropped enough by then, to make selling the 3 at that price viable.
I’m just glad I’m not CFO at that place. That must be one stressful job….
They’ve started shipping 3s to Europe en masse now. That could help explain the increased number of cars in “In Transit”
You got it! Tesla has not even started to expand into Eastern Europe yet – anyone with Model 3 reservation has to wait more. Plus the Model 3s are available only where people drive on the right side of road (excludes big markets like GB, IRL, NZ, Australia, Japan). Plus GMs Bolt, which is second best EV, had its federal tax subsidy cut in half 2019Q2.
Future is bright for Tesla!
A pox on those laptop makers who supply a proprietary charger with every generation of device.
I have a few laptops from one manufacturer. They all have the same connector but different amperage charger. A PITA.
Meanwhile, The Elon bells and whistles show continues. Are there no investors with actual engineering advisors who will look at the Tesla business case with a bit of technical reality rather than casino financial tactic?
In most cases, if the voltage and connectors are the same then as long as the minimum amperage required by the new laptop is at least the amperage listed for an older charger then you should be okay to use it.
I am on the road in Texas Hill Country. I forgot the charger for my computer. There was nothing at Best Buy or Altex Electronics so I am a bit stuck. Altex did have something that partially works with a warning about incompatibility when I boot. I can charge, but only when my computer is off. I have a powerful computer and even on battery save mode, it drains fast. Amazon was supposed to ship me the right unit overnight but I will not have it until Friday.
I will be posting less than normal for two reasons.
Very fitting comment to a story on delivery issues.
Seriously you go on 2 day vacation without charger and dump another ridiculous article about Tesla? How you gonna ban Wagner when he exposes you for your constant lies?