TESLA JUST REPORTED RECORD DELIVERIES & PRODUCTION (Q3-22)

EV Channels Review

Tesla's Q3 2022 production and delivery report reveals record production figures, reaching 365,923 units, which closely met analyst expectations. However, deliveries fell short of consensus, with 343,830 vehicles delivered, approximately 20,000 below estimates. The host attributes this discrepancy to increased vehicle exports from Giga Shanghai and logistical challenges, including the impact of a hurricane in the US Southeast. Tesla's explanation suggests a strategic shift towards a more even regional mix of vehicles, leading to more cars in transit at quarter-end, which are expected to be delivered in Q4. While inventory has grown, it remains lean compared to industry standards. The report also touches upon potential order softness in China for certain models, though the host expresses confidence in Tesla's demand and pricing flexibility. The discussion also briefly covers AI Day, highlighting Tesla's advancements in AI, Dojo, and the Tesla Bot, reinforcing the company's identity beyond just an automotive manufacturer.