On October 22, 2020, Tesla released its third quarter financial report for fiscal year 2020. The report shows:
Tesla announced that its third-quarter vehicle deliveries, profitability and free cash flow all hit quarterly records. Specifically, the financial report shows that the production of Model 3/Y in the third quarter was 128,044, a month-on-month increase of 69% and a year-on-year increase of 60%. The production of Model S/X was 16,992, a month-on-month increase of 169% and a year-on-year increase of 4%. The average selling price (ASP) of the car was slightly lower than the same period last year, and the product structure continued to shift from Model S and Model X to the cheaper Model 3 and Model Y. Tesla said that the Model Y at the Fremont Gigafactory is expected to reach production capacity soon, and recently increased the Model 3/Model Y production capacity to 500,000 vehicles per year. The Model 3 at the Shanghai Gigafactory has achieved its target production rate, and the Model 3 production capacity has increased to 250,000 vehicles/year. The construction of the Berlin Gigafactory continues to advance rapidly and is expected to start production in 2021. Semi electric trucks will also be delivered from 2021. The company said that achieving the goal of 500,000 production capacity mainly depends on the month-on-month increase in Model Y production at the Shanghai Super Factory and further improvements in logistics and delivery efficiency. In the subsequent earnings conference call, Tesla CEO Elon Musk highlighted:
Tesla's stock price rose more than 3% after the market closed and is currently priced at $436.45. via Futu NiuNiu |
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