Tesla's 2017 Second Quarter conference call with financial analysts is scheduled for tomorrow, Aug 2, 2017, 2:30 PM PT. (5:30pm ET, 21:30 UTC) You'll need to register to listen live -- but the audio file will be posted afterwards. Audio link and Update Letter will be available here: http://ir.tesla.com/events.cfm
Tesla (TSLA) is about to release its second quarter 2017 results – here’s what to expect
https://electrek.co/2017/08/01/tesla-tsla-results-q2/
The conference call is complete. They had technical difficulties at the beginning, so the conference really begins about 10 minutes in from the start of the audio file at the above link. The 2Q Update Letter has also been posted.
Of course the big story is the first deliveries of the Model 3 (in July, on schedule!). Although they are seeing some cancellations, they are netting about 1,800 new reservations a day since the event last Friday. The latest number of total (net) reservations is 450,000. Orders for the Model S are also increasing, so the Model 3 does not seem to be cannibalizing the sales of its big brother.
They are “very confident” about producing 10,000 Model 3 cars a week by the end of next year. “You should have zero concern about that.” Profit margin will be negative at first, but should be positive by Q4 2017, and around 25% next year.
Elon was very pleased with the great reviews the Model 3 has received, and particularly that 80% of automotive journalists who test-drove the Model 3 said they would buy one. The other 20% said they probably would.
About getting the world ready for lots of Model 3s: the number of superchargers globally will triple by the end of next year (to 18,000 from 6,000). They see that 80% of service visits do not require a lift, so they are expanding their mobile service units to take care of cars at people’s homes, or work locations — which is more convenient for the customers, as well. And frees up Tesla service centers to handle the larger Tesla fleet.
Elon said he spends much of his week with the Autopilot team, improving the software, and he drives each new release early on. Re the autonomous cross-country drive, he said “egg on my face” is possible, but he still thinks it will happen by the end of 2017. “If not, shortly thereafter.”
Re the Model Y (“If that’s what we call it”): instead of an all-new platform, the small SUV will use much of the same architecture as the Model 3, in order to bring it to market as early as possible. But they still plan to eliminate the 12-volt lead-acid battery and thus have only about 100 meters of wiring in the car.
SpaceX tie-in: there have been instances when Tesla concerns (like material composition) have been addressed using equipment from SpaceX.
Tesla Model Y is coming to market sooner using Model 3 architecture, says Elon Musk
https://electrek.co/2017/08/02/tesla-model-y-coming-sooner/Tesla gives update on Model 3 following launch: 1,800 reservations per day, Fremont production moving forward, Gigafactory
https://electrek.co/2017/08/02/tesla-model-3-updates-launch/Tesla (TSLA) announces Q2 2017 earnings: revenue of ~$2.8 billion and loss of $2.04 per share
https://electrek.co/2017/08/02/tesla-tsla-q2-2017-earnings/