Model Y Production Already Underway, Tesla Claims
Tesla’s fourth-quarter 2019 earning report, released Wednesday night, gave analysts and investors what they’d been looking for. In the midst of a global production ramp-up, the electric automaker posted a second consecutive quarterly profit — offering compelling news about a new model in the process.
That vehicle is the Model Y, a Model 3-based compact crossover that’s apparently already rolling off the assembly line in Fremont, California.
Slated to reach customers by the end of the first quarter, the Model Y is ahead of schedule. Previously, the automaker pegged fall 2020 for the first deliveries.
There was more information about the Model Y buried in the report. Tesla CEO Elon Musk claims his engineers have tweaked the AWD version, positioned as the volume choice, to travel an extra 35 miles before requiring a recharge. That model’s EPA range is now 315 miles, up from 280.
Pulling back, Tesla reported 367,500 deliveries in 2019, up by half over 2018’s tally. The fourth quarter of last year saw 112,000 Tesla vehicles reach customers, helped along by the early completion of its Shanghai Gigafactory. The current year, Tesla said, will see it “comfortably exceed 500,000 units.”
Wall Street walked away happy after the company’s earnings per share ($2.14) beat expectations ($1.72). Overall, the company’s net profit in Q4 was $105 million, down from the same quarter a year earlier. A far greater percentage of cheaper Model 3s in its sales mix saw automotive revenues rise just 1 percent in 2019, though increased production, combined with the addition of the slightly more expensive Model Y, gives the automaker confidence that 2020 will see revenues soar.
The company’s planned Berlin-Brandenburg assembly plant won’t see production start until 2021. Everything should be in place for a Model Y ramp-up in Fremont by the middle of the year, Tesla said, and construction is apparently underway to add the product to its Shanghai plant.
As for actual product, the Model 3 deliveries rose 46 percent last year as the aging Model S and X saw their combined tally fall 29 percent.
Not surprisingly, Tesla’s stock soared in after-market trading, rising as much as 13 percent.
[Image: Aleksei Potov/Shutterstock, Tesla]
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- Brett Woods My 4-Runner had a manual with the 4-cylinder. It was acceptable but not really fun. I have thought before that auto with a six cylinder would have been smoother, more comfortable, and need less maintenance. Ditto my 4 banger manual Japanese pick-up. Nowhere near as nice as a GM with auto and six cylinders that I tried a bit later. Drove with a U.S. buddy who got one of the first C8s. He said he didn't even consider a manual. There was an article about how fewer than ten percent of buyers optioned a manual in the U.S. when they were available. Visited my English cousin who lived in a hilly suburb and she had a manual Range Rover and said she never even considered an automatic. That's culture for you. Miata, Boxster, Mustang, Corvette and Camaro; I only want manual but I can see both sides of the argument for a Mustang, Camaro or Challenger. Once you get past a certain size and weight, cruising with automatic is a better dynamic. A dual clutch automatic is smoother, faster, probably more reliable, and still allows you to select and hold a gear. When you get these vehicles with a high performance envelope, dual-clutch automatic is what brings home the numbers.
- ToolGuy 2019 had better comments than 2023 😉
- Inside Looking Out In June 1973, Leonid Brezhnev arrived in Washington for his second summit meeting with President Richard Nixon. Knowing of the Soviet leader’s fondness for luxury automobiles, Nixon gave him a shiny Lincoln Continental. Brezhnev was delighted with the present and insisted on taking a spin around Camp David, speeding through turns while the president nervously asked him to slow down. https://academic.oup.com/dh/article-abstract/42/4/548/5063004
- Bobby D'Oppo Great sound and smooth power delivery in a heavier RWD or AWD vehicle is a nice blend, but current V8 pickup trucks deliver an unsophisticated driving experience. I think a modern full-size pickup could be very well suited to a manual transmission.In reality, old school, revvy atmo engines pair best with manual transmissions because it's so rewarding to keep them in the power band on a winding road. Modern turbo engines have flattened the torque curve and often make changing gears feel more like a chore.
- Chuck Norton For those worried about a complex power train-What vehicle doesn't have one? I drive a twin turbo F-150 (3.5) Talk about complexity.. It seems reliability based on the number of F-150s sold is a non-issue. As with many other makes/models. I mean how many operations are handle by micro processors...in today's vehicles?
2008 - 12 short years ago: - The best-selling luxury vehicle in the U.S. market was the Lexus RX. - Elon Musk become CEO of Tesla. - Tesla was just launching the Lotus-based Roadster. - TTAC began, and ended, the Tesla Death Watch. - GM's cancellation of the EV1 was 9 years in the past (1999). - GM would file for bankruptcy one year later (2009). - Ford had introduced the world's first hybrid SUV three years earlier (2005). - Robert Nardelli was CEO of Chrysler. - The Toyota Prius was in its 11th year of production (~8th year for U.S. sales) and on its second generation. - Elon Musk had published "The Secret Tesla Motors Master Plan" two years earlier (2006). https://www.tesla.com/blog/secret-tesla-motors-master-plan-just-between-you-and-me
OK, why is EVERY comment "awaiting moderation"? This place is getting really bad...