Tesla to achieve record deliveries in second quarter, says Musk in leaked email

We have a good chance of exceeding the record 90,700 deliveries of the fourth quarter last year, said chief executive Elon Musk in a leaked email to staff.

Tesla Source: Bloomberg

American automotive and energy firm Tesla is on track to hit a record number of car deliveries in the second quarter, according to a leaked internal email from the firm’s chief executive Elon Musk to staff.

The record deliveries is set to beat the 90,700 car deliveries in the final quarter of last year, of which 63,000 cars were Model 3s. Breaking the record would be a rebound for Tesla as its total deliveries for the first quarter of this year fell to 63,000.

In the email to staff verified by Reuters, Mr Musk told his employees that in order to achieve the record, the company would have to sustain an output of 1,000 Model 3’s per day.

“As of yesterday,…we had over 50,000 net new orders for this quarter. Based on current trends, we have a good chance of exceeding the record 90,700 deliveries of the fourth quarter last year and making this the highest deliveries/sales quarter in Tesla history!” said Mr Musk in his email to staff.

Mr Musk’s email counters concerns that demand for its cars were falling due to the drop in sales for the first quarter.

Tesla is expected to announce its second quarterly delivery figures in early July.

Shares rise 1.43% after the leaked email and price cuts on Model S and X

Tesla’s shares have fallen to the lowest since late 2016, as the firm has been struggling with shipping its Model 3 cars to Europe and posted worse-than-expected earnings in the first quarter.

On Thursday, Tesla shares gained 1.43% or US$2.76, to close at US$195.49 after a six-day slide, the additional news that the firm will be lowering the prices of its Model S and X also supported the price gain.

The firm has been making cost-cutting measures to stop the financial bleeding it suffered in the first quarter. The firm recently raised US$2.7 billion to manage its financial situation.

In another leaked email to the media last week, Mr Musk told employees the firm has to make “hardcore changes” in its spending practices such as “hands on” cost-cutting efforts and a tighter grip on employee expenditures to ensure that it doesn’t spend through all its cash.


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