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Tesla delivers record 241,300 vehicles in Q3, beats analysts' estimates

Tesla delivers record 241,300 vehicles in Q3, beats analysts' estimates

FILE PHOTO: The logo of car manufacturer Tesla is seen at a dealership in London, Britain, May 14, 2021. REUTERS/Matthew Childs/File Photo

Tesla said on Saturday (Oct 2) it had delivered a record 241,300 electric cars in the third quarter, beating Wall Street estimates after Chief Executive Elon Musk asked staff to "go super hardcore" to meet targets.

Analysts had expected the electric-car maker to deliver 229,242 vehicles, according to Refinitiv data.

Tesla has weathered the chip crisis better than rivals, with its overall deliveries surging 20per cent in the July to September period from its previous record in the second quarter, marking the sixth consecutive quarter-on-quarter gains.

In China, rising exports to Europe and the introduction of a cheaper Model Y helped boost Tesla's production, analysts said.

Musk had flagged an extremely severe parts shortage at the electric-car maker and had urged employees on for quarter-end delivery push, Reuters reported last month, citing an internal company email. [nL1N2QB2F3]

Tesla said it delivered 232,025 of its Model 3 compact cars and Model Y sport-utility vehicles and 9,275 of its flagship Model S and Model X cars to customers in the quarter.

Total production in the third quarter rose over 15 per cent to 237,823 vehicles from the prior quarter.

Source: Reuters

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