1/ OK, enough distractions. Let’s get back to business here $TSLA $TSLAQ and look at Q2 earnings. We’re still waiting for some numbers to come in. But let’s see what’s different this Q (rough numbers).
2/
🚗 Shanghai sales up 12000; Fremont down 10,000
🚗 Model Y sales up 12,000; S/X/3 down 10,000
🚗 European sales down 10,000
🚗 North American sales unchanged
🚗 Shanghai production up 12,000; Fremont down 30,000
🚗 Prices lowered 5% in late May on S/X/3
🚗 FSD sales frenzy
🚗 Shanghai sales up 12000; Fremont down 10,000
🚗 Model Y sales up 12,000; S/X/3 down 10,000
🚗 European sales down 10,000
🚗 North American sales unchanged
🚗 Shanghai production up 12,000; Fremont down 30,000
🚗 Prices lowered 5% in late May on S/X/3
🚗 FSD sales frenzy
3/ In addition to updated delivery numbers, I have these adjustments.
🚗 S/X revenue/car down $3000; 3 down $1000; Y unchanged
🚗 Gross margins down 2.5% in Fremont; unchanged in Shanghai
🚗 Bump up OpEx due to significantly more engineering activity
🚗 Reg Credits unchanged
🚗 S/X revenue/car down $3000; 3 down $1000; Y unchanged
🚗 Gross margins down 2.5% in Fremont; unchanged in Shanghai
🚗 Bump up OpEx due to significantly more engineering activity
🚗 Reg Credits unchanged
4/ Bottom line – Automotive revenue is up proportionally with sales volume. Tesla comes up only $47M short of a GAAP profit. Non-GAAP EPS of about $1.00 blows away analyst estimates similar to Q3 last year. Grist for the mill: 
