Tesla delivers 241,300 ‘eye-catching’ cars in record quarter

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Tesla delivered 241,300 better-than-expected cars globally in the third quarter, up 73% from the previous year, pushing the electric vehicle maker to a record breaking.

Quarterly deliveries are one of the most closely watched metrics for Tesla. They are also widely regarded as a barometer of consumer demand for electric vehicles in the context of the transition to the internal combustion engine.

“We would like to thank our customers for their patience as we tackle the challenges of the global supply chain and logistics,” Tesla said in a statement on Saturday. Model 3 and Model Y deliveries accounted for the overwhelming number of cars shipped.

The results exceeded an average delivery estimate of 223,677 from 12 analysts polled by Bloomberg and also exceeded the average projection of 221,952 that Tesla sent to investors.

The latest results were above the company’s previous record for 201,250 vehicles in the second quarter, marking the sixth consecutive quarter-over-quarter gain for the company.

“With the chip shortage, a major surplus in automotive space, and logistics challenges globally, these delivery figures were” eye-catching and testify to a trajectory in demand for electric vehicles that looks robust enough for Tesla to Q4 and 2022 approaching, ”Wedbush Securities analyst Dan Ives said in a note to clients on Saturday.

Shares of the market leader in electric vehicles closed little changed on Friday at $ 775.22. The stock is up less than 10% so far this year and lags behind the larger S&P 500, which it joined last year.

Tesla’s numbers compare favorably with the rest of the industry, which has seen vehicle sales in the United States plummet over the past three months due to production limits due to supply chain shortages. ‘supply. General Motors, which idled key truck factories in September, suffered the biggest blow, as sales in its domestic market fell by a third in the last quarter.

Tesla doesn’t break down sales by geographic area, but the United States and China are its biggest markets. Tesla currently manufactures the Models S, X, 3 and Y at its factory in Fremont, California, and the Models 3 and Y at its factory in Shanghai. Over 96% of this quarter’s sales were from the 3 and Y models.

New factories are nearing completion in Austin, Texas, and near Berlin.

For the first time, Tesla’s deadline for production and delivery read “Austin”.

Tesla will also hold its annual meeting of shareholders from the Austin plant on Thursday.

Martin Viecha, Tesla’s head of investor relations, did not respond when asked if Tesla had moved its headquarters to Austin.

In September, CEO Elon Musk emailed employees urging everyone to “go super hardcore” to “ensure a decent Q3 delivery number.”


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