When Tesla reported second-quarter earnings in July, it said it had plans to produce about 9,000 cars in the third quarter, with deliveries at around 7,800 for the quarter. "If we had been able to avoid this production down time, we would have been able to forecast Q3 quarterly production at about 11,000 units," Tesla said in its letter to shareholders. "Without the planned factory retooling shutdown, Q3 delivery expectations would have been approximately 9,500 vehicles."
In the second quarter, Tesla earned an adjusted 11 cents a share on $858 million in revenue, as it delivered 7,579 vehicles. The company noted it produced 8,763 vehicles during the quarter, as it begins to make way for the Model X, which is coming in the spring of 2015.
Tesla's stated goal for the year is 35,000 Model deliveries, which would mean a rather larger fourth quarter, due mostly to the third quarter plant retooling. Assuming a 7,800 delivery rate in the third quarter, Tesla will have delivered 21,836 Model S units in 2014, needing to deliver at least 13,164 cars in the fourth quarter to make its annual guidance. Analysts surveyed by Thomson Reuters expect the company to lose an adjusted 1 cent a share on $889.28 million in revenue in the third quarter.