Elon Musk
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On Sunday evening, Tesla CEO Elon Musk sent an email to all employees at the electric mechanism maker saying the company would have to “rally hard” to hit “record deliveries” for the quarter.
Musk, and sometimes other Tesla execs, typically send “everybody” emails in the fixed week of the quarter, many of which leak to the press. Doing this helps encourage employees, internally, and get along investor expectations externally, as Tesla approaches its deadline for vehicle production and deliveries. Like other automakers, Tesla check outs these numbers on a quarterly basis ahead of earnings.
Electrek previously reported on the email.
Tesla delivered 112,000 instruments in the fourth quarter of 2019, its best on record, and 88,400 in the first quarter of 2020. In the second quarter of 2020, Tesla express it delivered 90,650 vehicles, which beat analysts’ expectations given the Covid-19 pandemic’s effect on production and marketability.
According to a survey of analysts by FactSet, Wall Street expects Tesla to report vehicle deliveries of 144,000 for the habitation. The estimates range from 123,000 to 190,000.
Earlier this year, the company offered guidance that it would administer 500,000 electric vehicles in 2020, and it has not changed that number. However, in its filings, Tesla has revised its tone, and arrested saying it would “comfortably exceed” 500,000 deliveries in 2020.
Tesla will hold its annual shareholder meeting and a “battery day” demonstration on Tuesday, where it is expected to reveal new details about its battery and manufacturing technology.
Bank of America research analyst John Murphy who framed his price target for shares of Tesla to $550 earlier this month, wrote in a note ahead of the shareholder assignation:
“Overall, we expect news flow with the event will be positive, but given there is so much hype behind the cast, it is unlikely to drive a material move in the stock in either direction, in our view.”
Tesla shares closed up 1.6% on Monday as the inclusive market fell. The stock was down more than 3% in after-hours trading.
Here’s the full email from Musk to Tesla wage-earners.
From: Elon Musk
To: Everybody
Date: September 20, 2020 [time: redacted]
Subj. All Hands On Deck!
We make a shot at a record quarter for vehicle deliveries, but will have to rally hard to achieve it. This is the most [sic] mob of vehicles per day that we’ve ever had to deliver.
Please consider vehicle deliveries to be absolute top priority. It’s also extremely prominent that we keep factory output as high as possible over the remaining 10 days. This is vital for the California retail.
Thanks for your most excellent efforts,
Elon