We are expecting 27,500 deliveries in Q3 with an average ASP of $104,000 due to deliveries of the P100D and more Model X's. Service and other revenue should be roughly Overall Revenue should range between: 100-120m due to an increase in CPO sales (expecting 600-700 in Q3) and increased sales within Tesla Energy. Automotive gross margin should decline to roughly 22.5% on a GAAP basis due to an increase of discounts on inventory cars (roughly 1300 inventory cars sold, 2X Q2). Service and other revenue is expected to carry a margin around 5-8% due an increase in CPO vehicle sales and an increased Tesla Energy income.
Total Expected Revenue: $2.97bn (Non-GAAP)
Automotive Profit: $643,500,000
Service and Other Profit: $7,150,000
Expected Operating profit: $650,650,000
Expected Expenses: $590,000,000
Interest Expense: $45,000,000
Overall Profit: $15,650,000
GAAP EPS Estimate: ~$.11
*CPO and inventory car data is drawn from ev-cpo.com which does real time tracking on Tesla CPO and inventory sales and pricing.