Tesla’s job of playing catch-up with its deliveries seems to be paying off, as the electric automaker announced that is delivered roughly 24,500 vehicles in Q3, an increase of just over 70 per cent from the previous quarter’s deliveries, according to a press release by the company.
Considering Tesla’s parts shortages and production issues earlier in the year, the increase is welcome and includes 15,800 Model S cars and 8,700 Model X. The release also stated that in addition to its Q3 deliveries, roughly 5,500 vehicles were in transit to customers at the end of the quarter, which won’t be counted until Q4.
The company’s predictions for Q4 are for deliveries and production at its Bay Area plant to be at or slightly above Q3, though they did note that “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.”
Those numbers mean that Tesla looks to deliver just over 75,000 vehicles this year, short of an earlier forecast of 80,000-90,000.
From a marketing perspective, Tesla’s honest assessment of its numbers, along with its admission earlier this year that its Model X product shortages were blamed on the “hubris” of trying to add too much technology too soon, sets Elon Musk’s company on a path towards a turnaround. Musk has said that the company will introduce a mid-range $35,000 vehicle Model 3 in a year and will be producing 500,000 cars by the end of 2017.