How come no one is talking about the change in in-transit vehicles from last quarter to this one? It's a sequential increase of 1,500. If you count those, it's "effectively" 48,600 deliveries which puts them in the middle of their guidance.

That combined with adding loaner cars, showroom cars, and test drive cars completely makes up for the delivery/production discrepancy and reveals that production was the primary constraint on deliveries, not demand. Nearly everyone is screwing this up, although model S is likely leveling at this point. But not model X.

A similar thing happened in Q4, where they had nearly 6500 cars in transit at the end of the year. Made Q4 look bad but it actually pumped up Q1 numbers by 4500.

Same thing here, the extra in transit cars makes Q2 look bad but it pumps Q3 assuming a sequential decline of 1500 or more cars in transit.

If we count the change in in-transit vehicles in each quarter's delivery count, it actually gives us a bit of a look into the following quarter. Q3 will get a boost.