Inside EV Data Points To 42.8% MoM Fall For Tesla Motors Inc (TSLA) Model S Sales

Tesla Motors Inc (NASDAQ:TSLA) witnessed a 42.86% drop on its month-over-month delivery of its Model S electric vehicles in July, according to Inside EV data. It could deliver only 1,600 vehicles compared to 2,800 deliveries in June and 2,400 deliveries in May. After the first two months, July delivery is the weakest in the current year. The delivery raises a question whether the company will be able to achieve its targeted delivery of 55,000 vehicles in the current year.

Inside EV states that it accumulates data itself from first hand accounts available from the factory and from the community itself when available. They tout that their data hasn’t been off by more than 300 units.

2Q Edged Guidance

Tesla Motors Inc (NASDAQ:TSLA) appears to have delivered 6,900 Model S in the United States in the second quarter. The company made a big push in the second quarter to boost its deliveries in North America to beat their guidance of 10,000 – 11,000 vehicles. The company closed the quarter with 11,507 electric vehicles delivery. Inside EV data said that the electric vehicle maker edged out its guidance by few hundred units in the second quarter.

The company does not provide monthly sales number. That is probably due to the handling of public in respect of regional allocations, as well as, delivery lead time. The data also pointed out that rivals are catching up with the deliver numbers.

Deficit In Deliveries

Tesla Motors Inc (NASDAQ:TSLA)’s initial objective was to deliver about 48,000 Model S electric vehicles delivery this year. Another 7,000 vehicles from Model X will take the total number of deliveries to 55,000. However, the first two quarter data suggests that the company has not been able to meet even half mark of their targeted levels. Therefore, it will remain a big task for the company to reach the targeted deliveries.

Last year, Tesla Motors Inc (NASDAQ:TSLA) could not complete the delivery schedule. As a result, the company had to push the delivery schedule to the next year. The current year might also face a similar issue since there is a big gap between what has been delivered in the first half and the balance to be delivered in the second half of the current year.

Viraj Shah

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

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