“While achieving this goal has become more difficult,” the company wrote in its earnings statement, “delivering half a million vehicles in 2020 remains our target. Achieving this target depends primarily on quarter over quarter increases in Model Y and Shanghai production, as well as further improvements in logistics and delivery efficiency at higher volume levels.”
Thanks to its strong sales and record deliveries, Tesla saw its revenue grow 39 percent YoY in Q3 and its operating income rise to a record $809 million en route to its fifth consecutive quarter of profitability. Construction on Tesla’s production plants is continuing on schedule.