Tesla announced its third-quarter vehicle delivery numbers this weekend, the top line number being 24,500 shipped–15,800 Model S sedans and 8,700 Model X SUVs–a 70% increase over Q2.
“This was an increase of just over 70% from the last quarter’s deliveries of 14,402,” Tesla said in a statement, adding that its Q3 count is “slightly conservative” as there were 5500 vehicles “in transit” at the time of the count and will henceforth be counted with the Q4 report.
Although the delivered number of vehicles was 24,500, the total production for the quarter was 25,185. This has reaffirmed its guidance for the second half of 2016 at 50,000 vehicles.
Tesla did not provide deliveries guidance for the third quarter when it reported its second-quarter earnings but did come in under quarterly guidance for the first half of the year following 14,820 deliveries in Q1 and 14,370 in Q2, against predictions of 17,000 and 16,000, respectively.
Tesla had guided toward a delivery of 80,000-90,000 vehicles in 2016 and will be at the low end of that target, however CEO Elon Musk has set the ambitious goal of 500,000 deliveries annually by 2018. This is in no small way influenced by the Model 3 mass-market vehicle anticipated for late 2017.
So far today, Tesla stock has risen about $10 points or nearly 5% following the Sunday announcement.