Overall deliveries for Q3 though, totaled 83,500 vehicles: which were comprised of 55,840 Model 3’s, as well as 14,470 Model S’s.
These figures meant that Tesla’s Q3 deliveries alone correspond to 80% of the company’s entire deliveries last year. The electric car maker also delivered about twice as many Model 3 in the third quarter as all previous quarters combined.
Tesla also had 8,048 Model 3 and 3,776 Model S and X in transit to customers at the end of Q3–these vehicles were expected to be delivered in early Q4 2018. The company’s target of delivering 100,000 Model S and X in 2018 remains unchanged for the time being.
The third quarter saw Tesla transition from its self-imposed “production hell” and well into what Elon Musk describes as “delivery logistics hell.” Even before the release of the Q3 results, expectations from Wall Street analysts pointed out to the electric car maker hitting its target of producing and delivering 50,000-55,000 Model 3 in the quarter. David Tamberrino, Goldman Sachs analyst, who has long been a Tesla skeptic, released a not stating that he expects the company to achieve its Q3 targets—in both production and delivery.
The past quarter has not been smooth for the electric-vehicle manufacturer, whose shares in the stock market experiences several drops – most notable of which was a steep dive last week after the Securities and Exchange Commission (SEC) sued Elon Musk over the now-notorious “funding secured” tweet last August. Musk and SEC did manage to reach a settlement last week and by early this week, TSLA stock had recovered the losses it had incurred from the previous week’s drop.
Tesla’s record Q3 2018 numbers were notably achieved through a remarkable team effort that involved both the company’s executives and the owners of the electric cars themselves. Due to the company facing challenges with its “delivery logistics hell” at the end of Q3, some Tesla owners themselves volunteered to help out the company by conducting orientations for newcomers. Musk himself was also reported to be involved in the deliveries.
The company is set to tackle even more ambitious targets in Q4. Tesla’s Model 3 production ramp– which is now hitting its stride– is expected to continue until the company hits a steady pace of producing 10,000 Model 3 per week.
Preparations for the initial production of the $35,000 Standard trim Model 3, which is expected to enter production early next year, are also expected to continue.