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Tesla was hoping to deliver 100 000 cars in the three months to September, but missed the mark by 3 000. The other issue is the fact that the average price of the Tesla is coming down dramatically as we see ramp up in the Tesla Model 3 which is significantly cheaper than my favourite Tesla Model S.
The great news though is that even though Tesla delivered 3000 cars below target, the EV company managed to deliver 2% more cars than the previous quarter. The Tesla Model S and X sales fell a tiny bit and the Model 3 set a new record of 79 600 cars delivered to customers, or about 2 000 more cars than the previous quarter.
If we apply the average price to the cars sold in the quarter ending in September, we can expect revenues of around $5.5 billion if we exclude any rebates to the company. Remember that Tesla had about $5 billion in hard cash by the end of the second quarter, it'll be interesting to see how Elon Musk & Co. have employed it.
