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Wednesday, July 5, 2017

When Will Tesla Hit 200,000 Sales in the U.S.? [Q2 2017 Update]

We've been tracking Tesla's sales for some time now. Specifically, the sale of the 200,000th vehicle in the US is an important milestone since it will trigger the US Federal incentive to begin a phase out 3 to 6 months later.

There are hundreds of thousands of people with Model 3 reservations, the timing of the incentive phase out could impact many buyers, so it's an important question.

Earlier this month, Tesla released their Q2'17 sales numbers. They have now sold more than 130,000 vehicles in the US. The Q2 sales numbers were slightly lower than we predicted three months ago and lower than the Street expected and the stock price was punished accordingly. Although the Street was not happy with the Q2 sales, these lower than expected sales did not impact the 200,000th sale forecast significantly.

Here are the historical sales and our forecast.

Just as our forecast from 3 months ago, this new forecast predicts that the 200,000th US sale will occur in the second quarter of 2018. If that is the case, the incentive will phase out as shown in the below image.

Tesla Model 3 sales start with a token amount this month and depending on how fast they ramp, this forecast could change significantly. We'll have a much better idea where the 200,000th sale will likely fall by the end of this year.

Assuming that the above forecast is correct, the incentive would remain in full effect until the end of September of 2018. This would afford Tesla more than one year of Model 3 deliveries that would be fully eligible for the US tax incentive. This should include delivery of the dual motor all-wheel-drive and performance versions of the cars that are expected to start delivery in early 2018. So if you already have a reservation, there is a good chance that you could have your car in time to qualify for the $7500 federal tax credit.

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