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Tesla production increases of 37% from second quarter 2016

Tesla delivered approximately 24,500 vehicles in third quarter with an increase of over 70% from second quarter 2016.

tesla motorsTesla (NASDAQ: TSLA) delivered approximately 24,500 vehicles in Q3, of which 15,800 were Model S and 8,700 were Model X. This was an increase of just over 70% from last quarter’s deliveries of 14,402.

In addition to Q3 deliveries, about 5,500 vehicles were in transit to customers at the end of the quarter. These will not be counted as deliveries until Q4.

Production rose to 25,185 vehicles in Q3. This was an increase of 37% from Q2 production of 18,345.

Tesla Motors team mamagers expect Q4 deliveries and production to be at or slightly above Q3, despite Q4 being a shorter quarter and the challenge of delivering vehicles in winter weather over holidays. Guidance of 50,000 vehicles for the second half of 2016 is maintained.

Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.

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