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Tesla shares rose on Thursday after a report that it dominated the electric vehicle market in August, news that CEO Elon Musk circulated in a tweet.
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According to the estimates of the InsideEVs market tracker, You're here (TSLA) delivered 17,800 Model 3 sedans in August. The Toyota Prius Prime, with 2,071 seats, then the Tesla Model S and the Model X, was far behind. The Tesla Model 3 was the fifth-best-selling car in the US in August, according to an analysis by Clean Technica. This site also follows the market for electric vehicles.
Tesla shares rose 1.9%, nearly 286, during the morning trading session on the stock market.
According to InsideEV, Tesla delivered 32,050 Model 3 vehicles in the first two months of the third quarter. Current model 3 production estimates suggest that Tesla is on track to meet its target of delivering 50,000 to 55,000 models 3 in the third quarter.
"We believe Tesla is looking to reach its third quarter targets," Oppenheimer analyst Colin Rusch said in a note to his clients on Thursday.
"While InsideEV estimates are just that, estimates, we believe that the service was effective in identifying directional and order of magnitude trends of monthly shipments for Model 3 instead of data. verified by the company, "he writes.
Tesla Stock Action
Rusch has outperformed Tesla and has a price target of 385. The Tesla stock has seen dramatic fluctuations since Musk announced for the first time its intention on August 7 to buy the company at $ 420 per share.
The shares fell as doubts grew that Musk had secured the financing, as he claimed. In a blog post on August 24, he abandoned his plans. The Securities and Exchange Commission is currently investigating the matter.
Tesla is facing increased competition in the field of electric vehicles. Mercedes-Benz introduced this week its first all-electric car, a sport utility vehicle called EQC. BMW takes control of its iX3 electric SUV. Also come the I-Pace Jaguar and the Audi e-Tron.
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