No surprise, they missed and blamed an extreme production ramp at the end of the quarter again.
Q1 was 14,820 vs forecast of 16,000
Q2 was 14,370 vs forecast of 17,000
They are missing their forecast by even more. Deliveries are decreasing sequentially. Model S had a huge drop from 12,000 to 9,745. It’s the same old story of production was much better the last month of the quarter, so things are great. They maintain the annual forecast of 80-90k vehicles.
They allegedly exited Q1 making 750 model X a week. That’s 9,750/Qtr. Q2 sales were 4,625 or about half that. Something is fishy.
They claim they will build 28,600 in Q3 and 31,200 in Q4.