Tesla released the Q3 earnings and presented decent numbers.
Tesla Motors (TSLA:NASDAQ) released the Q3 earnings numbers yesterday. Orders for the Tesla Model S have increased 50% compared to a year ago. Tesla delivered a record 11,603 cars and made a record 13,091 electric vehicles in the quarter. The TSLA stock jumped in pre-market trading 8%.
Tesla reaffirms that the Tesla Model 3 will be presented in March of 2016. The Model 3 is supposed to bring the price down to compete in the middle-class car market priced at $35,000. Elon Musk said in September already that the Model 3 will be revealed in March.
Tesla launched in September the new Model X SUV. The car maker did though not break out the Model X sales numbers yet.
For Q4 Tesla Motors plans to build 15,000 to 17,000 cars and deliver 17,000 to 19,000. This will result in 50,000 to 52,000 deliveries for the whole year of 2015.
Tesla's Q3 non-GAAP revenue was $1.24 billion, up 33% compared to a year ago.
The details are published in the Tesla Motors Shareholder letter. Elon Musk presented the numbers yesterday afternoon in the earnings call.
Tesla made quite some headlines with the release of the so called Autopilot feature. Mainly because of drivers taking the feature to the extreme and filmed themselves doing all kinds of things while their Tesla is in autopilot. The feature is at this stage a glorified speed control and not meant for drivers to take nap while driving. Musk responded to the stunts in the earnings call and said that the company will limit the functionality because of what people are doing with the feature.
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Tesla Motors was founded in 2003 and built in 12 years a car company that is about to go against BMW and Mercedes in the middle class in 2017 with the Model S. Tesla is already bothering BMW, Audi and Mercedes in the luxury class in Europe. The expanding emissions scandal is playing in the hand of Tesla Motors and will bring new customers that are fed up with the established car makers like Volkswagen.