As far as revenue is concerned, Tesla during the quarter generated $6.8 billion in revenue, easily besting estimates from analysts on Wall Street. The company on Wednesday posted a profit and positive cash flow, making good on pledges made by Musk earlier this year, as the company ramps up volume of its new sedan.
Though he mentioned his average time goal is under ten days, he emphasized it was a goal and not a promise, unlike the one he made on its Model 3 auto. "Further, we believe the strength the company saw this quarter was aided by higher priced Model 3 variants and believe the eventual $US35,000 price point on this vehicle may make it more hard for TSLA to see similar tailwinds". But Wood's biggest hopes for the company concern software, and she worries those lofty mobility-as-a-service goals won't come to fruition if Tesla goes private.
According to CNBC, Musk told investors that the Model 3 is accruing orders of "anywhere from 500,000 to 1 million cars a year".
"For many people, it is the most expensive vehicle they ever bought", Musk said. He said the goal would be that eventually, they would be able to do so, but there was more to learn about producing the Model 3 so that they could get to that point. In order to improve upon costs, Tesla offered customers a mid-size range version of the Model 3 which started at United States dollars 46,000.
The electric car-maker made a record $311.5m (£241m) in the three months to 30 September, as the pace of auto deliveries accelerated.
Just as the dust looked to be settling for Elon Musk's Tesla, it appears the company has another investigation on its hands.
Musk capped the quarterly report with a drama-free earnings call, which is far from a given for him. According to Musk, in August it took almost 30 days to get the cars to customers, but by the end of the third quarter, it took an average of 20 days.
Tesla CEO Elon Musk is now focusing on the next task: another profitable quarter.
For Tesla, turning a profit was not its only notable achievement in the third quarter; it also stopped burning through its cash.
Production is to initially take place in California, but Tesla is "moving rapidly" to get production going in China and wants to have that going next year, he said. Not surprisingly, shares of Tesla are up more than 10% in after-hours trading.