Tesla motors inc (tsla)_ can it meet its delivery target_
On Sunday, US electric vehicle maker Tesla Motors Inc.( NASDAQ:TSLA) announced that it has delivered 14,370 vehicles in the second quarter, which was far lower than its guidance of 17,000. Noodles and company tampa This shows that though the automaker is trying to ramp up its production, its deliveries are still short of expectations. Noodles and company employment The company witnessed half of its quarter’s production in the last four weeks of the quarter.
According to the company, it manufactured 18,345 cars in the second quarter, however, it was only able to deliver 14,370 vehicles. Noodles and company menu and prices The company revealed that still there are overall 5,150 vehicles on ships or in trucks ready to be delivered; however, they will reach the customers in the third quarter. House of noodles menu Of the overall 2Q sales, Tesla delivered 9,745 vehicles of its Model S sedans and 4,625 of its luxurious Model X crossover.
As per Electrek, this is the first time when the automaker has witnessed drop in its Model S deliveries for two consecutive quarters.
Noodles and company naperville Currently, they are are at the lowest point since the third quarter of 2014.
At present, the electric car maker has managed to increase its production nearly 20% over first quarter, with output projected to hit 2,200 and 2,400 vehicles per week by 3Q and 4Q, respectively . Noodles and company okemos The automaker plans to deliver 50,000 vehicles during the second half of 2016 alone, which is equivalent to its total deliveries from last year. Noodles and company bozeman This means that 79,180 Model S sedans and Model X sport utility vehicles shipped for the full year.
Even if the automaker achieves its target to deliver 50,000 vehicles in the remaining two quarters combined, Tesla will still not be able to hit its overall sales target of 80,000 to 90,000 vehicles, which was set earlier this year.
The company has been working to ramp up its vehicle production recently. Noodles and company niles Despite this, the automaker witnessed difficulty in getting its cars delivered to its customers fast enough to meet the delivery goals. Noodles and companu The automaker is undertaking production ramp up at its Fremont, California, factory with an eye toward making 500,000 cars a year by 2018 — an aspiring timeline that also depends on the automaker’s battery factory east of Reno, Nevada, becoming operational with its battery cell production.
Tesla plans to significantly increase the production at its Fremont factory in order to maintain the production of the luxurious Model X and Model S, and to cater better-than-anticipated demand for its latest unveil mass market Model 3, which has more than 373,000 pre-orders and is expected to start deliveries in late 2017.
This is the second time for that the automaker’s deliveries come in short of expectations this year. Noodles and company frederick In the first quarter, the electric car maker has reported total deliveries of 14,820 vehicles in January-March period, below the forecasted figure of 16,000. Working at noodles and company Overall, it revealed that during the quarter, it has delivered 2,400 vehicles of its luxurious Model X and 12,420 vehicles of Model S.
According to the automaker, it had serious production issues with its luxurious Model X due to supplier parts deficiencies, which had lasted for longer than anticipated duration.
As per the company, there are few major causes of the auto parts shortages. Noodles and company woodbury Some of which are that its hubris includes more technology to its Model X version 1, there is inadequate supplier capability validation, and the company does not have sufficient internal capability to manufacture parts in-house. Noodles and company headquarters Other issues
Failure to meet its delivery targets is not the only problem the automaker is facing at present. Noodles and company hudson wi Last week, US regulators have started a preliminary probe into a case where a Model S driver died while operating his vehicle on autopilot mode. Noodles and company new berlin This fetal Model S crash has increased pressure on automakers and regulators to make sure that automated driving technology is positioned safely.
In a blog post, Tesla revealed that the crash was first known accident that has happened in more than 130 million miles of Autopilot driving and that this feature, which is disabled by default in the vehicles, requires clear acknowledgment by drivers who enable it that the system is new technology is still under test.
Worldwide, nearly 70,000 Tesla vehicles have this Autopilot feature. Noodles andcompany This month, National Highway Traffic Safety Administration (NHTSA) has planned to release guidelines regarding the safe deployment of automated driving and self-driving technologies and this incident may delay its plan.
The US electric smart car maker is also struggling with investor fallout following its all-stock offer of $2.86 billion to acquire its sister solar panel company, SolarCity. Noodles and company menu prices Mr. Noodles nd company Musk is the chairman of SolarCity, CEO of Tesla, and largest stakeholder of the two companies. Noodles and company to go Not only investors but many analysts are also not happy with upstart automaker’s decision of buying the solar panel company.
Silicon Valley automaker will reveal its second quarter results in August and until then there could be slight change in this preliminary deliveries figure. What is noodles The automaker counts a vehicle delivered only if it is completely transferred to buyer and all paper work is correct. Noodles locations Tesla reveals its figures quarterly and not monthly like other automakers.
Though the second quarter delivery results are unsatisfactory and will reflect poorly on Tesla’s second quarter earnings, it’s not all bad for the automaker. Noodles and company draper The electric vehicle maker seems to be setting things up for an exciting second half of 2016 – in terms of production, as the automaker plans to produce 50,000 in the next six months, and on base on a product standpoint.
In a research note issued to its clients, Global Equities analyst Trip Chowdhry stated that the company had a similar figure of vehicles in transit in 2QFY16 as it had in 1QFY16, the automaker would have delivered nearly 17,300 units, slightly surpassing their delivery guidance.
With the continued productivity improvements, the company anticipates output to reach 2,200 vehicles per week in the next quarter and 2,400 cars in the last quarter this year. Noodles etc chicago Current order rate trends and backlog support production at those levels. Noodles and company louisville Overall, the automaker’s prediction of producing 50,000 cars in latter half of 2016 is approximately equals to all of 2015.