Tesla said on Saturday that the company’s delivery of electric vehicles in the third quarter hit a new high, surpassing Wall Street’s expectations. Previously, founder and CEO Elon Musk asked employees to “work hard.” Promote delivery at the end of the quarter.
Tesla weathered the chip crisis better than its competitors. Between July and September, its overall delivery volume surged by 20% from the previous record in the second quarter, which is the sixth consecutive quarter of sequential growth.
Analysts say that in China, increased exports to Europe and the introduction of cheaper Model Y cars will help increase Tesla’s production.
Tesla delivered 241,300 vehicles worldwide in the July-September quarter, an increase of 73% over the same period last year. Refinitiv data shows that analysts had expected the electric car manufacturer to deliver 229,242 cars.
Total production in the third quarter increased by more than 15% over the previous quarter, reaching 237,823 vehicles.
Gary Black, a Future Fund portfolio manager who is bullish on Tesla, said that Tesla’s deliveries were driven by China’s record deliveries, which “makes any claims about slowing demand in China self-defeating.”