The Strategist

Tesla sets new record, SEC comments on charges against Elon Musk

10/02/2018 - 15:54

In the third quarter, American Tesla Inc. increased production of electric vehicles by 50% compared to the previous three months - up to 80,142 thousand.

OnInnovation via flickr
OnInnovation via flickr
This is the highest quarterly figure in the company’s history, according to a press release. The number included 26,903 cars of Model S and Model X, and also 53,239 thousand Model 3 were released.

Deliveries in July-September amounted to 83.5 thousand electric vehicles: 14.47 thousand Model S, 13.19 thousand Model X and 55.84 thousand Model 3.

"We delivered more than 80% of the number of cars sold for the whole 2017 only in the third quarter, and we shipped about twice as much Model 3 compared to all previous quarters together," the report said.

Analysts polled by FactSet, on average, predicted that the supply of Model 3 will amount to 55.6 thousand, Model S - 12.9 thousand, Model X - 12.5 thousand.

Tesla confirmed the forecast, according to which it plans to deliver more than 100 thousand electric cars Model S and Model X in 2018.

Tesla share prices during pre-bidding on Tuesday rose by 2%. Capitalization of the manufacturer of electric vehicles and solar panels has decreased by 7.3% over the past three months.

In connection with settlement of the US Securities and Exchange Commission (SEC)’s claims to the founder and head of Tesla Elon Musk, SEC head Jay Clayton made a separate statement, which is a rather unusual case, notes the Financial Times.

"It often happens that interests of ordinary shareholders, who had no relation to violations, are intertwined with interests of those responsible for violations of officials and the company itself," wrote Mr. Clayton in a statement, adding that "professional skills and support of specific individuals are very important to the success of companies in the future. "

According to the FT, this statement demonstrates that the SEC recognizes importance of Elon Musk himself for successful work of Tesla. Mr. Clayton also noted that he supports the lawsuit filed by the SEC against Elon Musk, and the subsequent settlement of claims, because it serves interests of markets and investors, including Tesla shareholders.