Tesla Production Update and New European Developments | Financial Buzz

Tesla Production Update and New European Developments

Tesla, Inc. (NASDAQ: TSLA) reported a data update regarding the vehicle production and deliveries for the third quarter. According to the popular electric car manufacturer, in the third quarter, the Company produced just over 145,000 vehicles and delivered nearly 140,000 vehicles. In terms of days of sales, new vehicle inventory declined further in Q3 as Tesla continue to improve our delivery efficiency.

The innovative Company reported that net income and cash flow results will be announced along with the rest of our financial performance when full Q3 earnings will be reported. In the meantime, the update indicates that delivery count should be viewed as slightly conservative, as Tesla only count a car as delivered if it is transferred to the customer and all paperwork is correct.

Final numbers could vary by up to 0.5% or more. Tesla point out that vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.

In addition, according to a report by The European, tesla is acquiring a German battery assembly line manufacturer supplying BMW and Mercedes-Benz, TW Assembly & Test — Europe GmbH. “ATW’s business partners received notification on Tuesday that they had agreed on the takeover by a manufacturer of electric vehicles ‘in California.’ That this is Tesla, based in Palo Alto, California’s Silicon Valley, was not confirmed in the letter, but word got around in the industry. A celebration at ATW in Neuwied, where the takeover was toasted on Friday, may have contributed to this. Several Tesla vehicles with the “BIT” license plate drove up for Bitburg. The company Tesla Grohmann Automation GmbH, which operated as Grohmann Engineering GmbH until January 2017, is based in Prüm, which belongs to the Eifel district of Bitburg-Prüm. Then the manufacturer of airbag sensors, electronic steering aids,” The European reports (translated from German).