Tesla delivered just over 25,000 vehicles in Q1, of which approx 13,450 were Model S and approx 11,550 were Model X. This was a new quarterly record for us and represents a 69% increase over Q1 2016. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5%. In addition to Q1 deliveries, about 4,650 vehicles were in transit to customers at the end of the quarter. These will be counted as deliveries in Q2 2017. Q1 production totaled 25,418 vehicles. This was also a new quarterly record for us.
Here's a few interesting notes about this: 1) Most people were expecting Tesla to deliver 21-23k cars for Q1, so by delivering 25k vehicles Tesla beat expectations and this was a definite surprise, 2) Model X deliveries (and likely demand) are growing quarter-over-quarter and it looks like Model X demand will reach parity with the Model sometime this year, 3) This news comes shortly after last week's filing of Tencent reporting they now have a 5% stake in TSLA, and 3) TSLA has been testing all-time-highs in recent months and the combination of these catalysts combined with imminent Model 3 production, was enough to send TSLA to over $300 this week.
For a further detailed analysis, refer to my post this week on my TMC thread here, https://teslamotorsclub.com/tmc/posts/2037188/.
Tesla's addressable market is truly staggering:
The sooner investors view Tesla as a transportation/infrastructure company rather than as just a car company, the more we believe the industry events to come over the next 12 to 18 months will make sense. The addressable markets within Tesla’s ecosystem could potentially include a $10 trillion light vehicle mobility market, a $1 trillion logistics market, a $2 to $3 trillion energy market and a potential multi-trillion market captured in the 600bn hours of consumer time spent in cars in the form of content delivery and data monetization.