Tesla can achieve 'record deliveries' in Q3, says Elon Musk

Tesla Model S-5

Tesla CEO Elon Musk says the company has a shot at delivering more than 121,000 electric vehicles (EVs) in the third quarter to set a record, but warned this might require a superhuman effort.

Tesla's previous record deliveries were at 112,000 vehicles that were all delivered during the previous fourth quarter of 2019. According to the CEO Elon Musk, it's actually extremely important that people keep the whole factory output just as high as possible throughout the last 10 days remaining. "This is vital to the California market".

Despite the pandemic, Tesla has kept its original forecast for vehicle deliveries in 2020, with the company looking to deliver 500,000 cars by the end of the year.

Tesla delivery analyst Troy Teslike, whose estimates were 98.6% accurate in the second quarter, now expects the electric auto maker to deliver about 144,000 vehicles in Q3 2020.

Musk in August recommended on Twitter that Tesla might be able to standardize batteries with 50% more energy density in 3 to 4 years, which might even allow electrical planes.

The end of the quarter is approaching and as usual, Tesla is in the middle of a series of deliveries in order to improve its financial statements for the quarter. Tesla, which overtook Toyota in July as the most valuable automobile company in the world, sells its cars in several markets in Europe, Latin America, Japan, Singapore and Australia, besides China.

A much hyped "Autonomy Investor Day" in April in 2015 stopped working to stop a five-month decrease in the business's stock. Musk had, however, said that they need to finish Giga Berlin and a second US Gigafactory. The company is scheduled to hold its annual shareholder meeting on September 22 and its first-ever so-called "Battery Day" for investors.

Tesla has developed its own battery cell manufacturing process called "Roadrunner" that would support its plans to increase vehicle production.

Cowen analyst Jeffrey Osborne said in a recent client note he expects Tesla to announce it is bringing battery cell production in-house, and for Musk to focus on work done on "million mile" batteries.

Underscoring lots of financiers' issues that Tesla's stock has actually ended up being misestimated, it is trading at about 150 times anticipated revenues over the next 12 months, about double its 5 year average, according to Refinitiv.



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