Tesla exceeds expectations. Delivered over 240,000 cars in the third quarter

Tesla delivered 241,300 electric vehicles in the third quarter of 2021, indicating that sales for the quarter exceeded expectations, with analysts expecting Tesla to deliver around 220,900 vehicles during that period, according to the estimates compiled by StreetAccount.

Tesla said in its report that the company produced 237,823 vehicles during the period ending September 30, 2021. Of that number, 228,882 of its Model 3s and Ys, which are classified as affordable mid-range cars .

The remaining quantity produced was 8,941 cars of the S and X models.

In the second quarter, Tesla delivered 201,250 vehicles and produced 206,421 vehicles, even as production of its Model S and Model X fell below 2,500.

The company said in a statement: “The number of our deliveries should be considered a bit conservative, as we only count the vehicle as delivered if it has been passed on to the customer and all documents were correct, the final figures may differ by up to 0.5% or more. “.

Tesla plans to hold its annual meeting of shareholders at its plant, currently under construction, near Austin on October 7. Musk previously threatened to move Tesla’s headquarters out of California in the spring of 2020 when COVID-19 health orders forced Tesla to temporarily suspend its plant in Vermont, California, for a few weeks.

Tesla produces its electric vehicles at its plant in Shanghai and its US plant in Fremont, Calif., While continuing to produce batteries locally with Panasonic at its sprawling facilities outside of Reno, Nevada.

According to a Pew Research poll from June 2021, 39% of Americans said that “the next time they buy a car, they’re at least somewhat likely to seriously think about using electricity.” About 7% of Americans said they had purchased electric cars or hybrid electric cars in the past.

“Tesla’s share of the battery-electric vehicle market is almost certain to decline – as many of its peers have yet to start selling,” wrote Alexander Potter, senior research analyst at Piper Sandler, who said a price target for Tesla’s stock at $ 1,200. But we expect Tesla’s overall market share to continue to increase, and stress that declining market share should not be taken as a bearish signal. “” Tesla competes with cars of all kinds. kinds – not just against other electric cars, ”he added.