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Tesla delivered 97000 vehicles less than expected in the third quarter and signed a financing agreement with China Merchants Bank.

2024-11-21 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)10/03 Report--

Tesla officially announced its delivery results in the third quarter on Wednesday night. According to the data, the company delivered about 97000 vehicles in the third quarter. Last week, media revealed that Musk said in an email to employees that Tesla had the opportunity to create 100000 car deliveries in the third quarter.

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According to FactSet, although Tesla broke the delivery volume of 95200 vehicles in the second quarter in the third quarter, it was still lower than expected.

Specific to the model, Tesla delivered 97000 vehicles in the third quarter, including 79600 Model 3 and 17400 Model S/Model X. With 84000 vehicles delivered in the third quarter of 2018, including 55840 Model 3s and 27660 Model S/Model Xs, Model S/Model X is down 33 per cent from a year earlier.

In announcing third-quarter sales, Tesla said it had achieved "record" net orders in the third quarter, adding that its squeeze orders in the third quarter had increased and would increase production to meet this demand.

At present, Tesla's strategic focus is fully shifting to the delivery of the entry-level model Model 3. Benefiting from the increase in Model 3 sales, Tesla's delivery volume in the third quarter of this year increased by 16.2% compared with the same period last year, and nearly 2% month-on-month.

In order to achieve the final sprint of annual sales, Tesla Shanghai Super Factory will also speed up in an all-round way. According to media reports, Tesla Shanghai Super Factory will start full production this month and achieve its target of 3000 Model 3 electric vehicles by the end of the year.

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Tesla's Shanghai Super Factory, Tesla's first pilot production plant in an overseas market, is so far the only car manufacturing project in China that should be independent of foreign investors. the plant officially opened on January 7, 2019.

The output of Tesla Shanghai factory will finally achieve the annual production target of 500000 vehicles. Tesla Shanghai Super Factory already has the conditions for mass production. The first car in white will be offline on September 26, and the stamping workshop, painting workshop and final assembly workshop will have the production capacity.

Tesla announced the delivery volume in the third quarter on the same day, the stock price fell slightly. In addition, Tesla signed a financing agreement with China Merchants Bank, which includes an unsecured 12-month revolving loan of up to 5 billion yuan, mainly to finance Tesla's transportation of vehicles to China, Bloomberg reported.

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