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Tesla cites strong demand across models [Seeking Alpha]

TESLA INC (TSLA)  More Company Research Source: Seeking Alpha
Last tesla inc earnings: 2/7 04:06 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.tesla.com
PDF Tesla (NASDAQ: TSLA ) says the Model 3 is on track for production to meet previously announced targets. Demand has been strong since the handover of the first 30 Model 3 cars last week, with an average of over 1,800 net Model 3 reservations per day. The EV automaker is "confident" it can produce just over 1.5K vehicles in Q3, and achieve a run rate of 5K vehicles per week by the end of 2017. "We also continue to plan on increasing Model 3 production to 10,000 vehicles per week at some point in 2018," indicates management. Tesla says Model S and Model X deliveries are expected to increase in the second half. Both models have seen increased demand up to and after the Model 3 handover event. Q2 automotive margin was reported at 25.0% on a non-GAAP basis (ex-ZEV credit revenue) vs. 24.4% expected and 27.8% in Q1.  The company expects non-GAAP automotive gross margin to temporarily dip below 20% in Q3, before recovering in Q4 and beyond. Tesla on capex: "Capital expendi [Read more]

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