A closer look at Tesla's record quarter

Posted on October 05, 2021 by Charles Morris

Earlier this month, Elon Musk warned employees that this would be “the craziest month of deliveries Tesla will ever have.” I don’t know how wild it got at the delivery centers, and I don’t want to know, but the end result is hard to argue with—Tesla set a new quarterly record for vehicle deliveries.

Above: Tesla's making a massive impact globally with its all-electric Model Y SUV  (Twitter: Tesla Greater China)

Tesla’s direct-to-customer sales model necessarily results in a gonzo delivery push at the end of every quarter, and as predicted, this one reached a new level of insanity, in spite of a spate of global supply chain and logistics problems.

In the third quarter, Tesla produced 237,823 vehicles and delivered 241,300, smashing last quarter’s record of 201,250 deliveries. A poll of Wall Street analysts found that the average Tesla-watcher was expecting around 222,700.

Models 3 and Y have taken over the lion’s share of Tesla’s volume—the two newer models accounted for 232,025 deliveries, and the venerable Models S and X accounted for a mere 9,275. This actually reflects a significant ramp-up of Model S production, which slowed to a trickle last quarter as Tesla began production of the updated version. Model X has also had a revamp, and few units were delivered this quarter, but it’s expected to get back into the mix during the next period.

Meanwhile, the new Gigafactories in Texas and Berlin are expected to start producing Model Y by the end of 2021, so most observers expect Tesla to achieve annual production of over a million electric vehicles this year.

Wall Street liked the news well enough—TSLA notched a slight gain the day following the announcement (these days, only ludicrously plaid numbers cause the stock to make a real move), and Bloomberg (via Electrek) reports that short interest is at an all-time low, at 1.1% the shares outstanding.

I wonder what the TSLAQ crowd are having for dinner tonight.



This article originally appeared in Charged. Author: Charles Morris. Sources: Tesla, Electrek, InsideEVs; Video: CNBC

Related Posts

Ach du lieber! Tesla outsells all three premium German automakers—in Germany
Tesla’s vehicles have been outselling gas-powered competitors in their segments for years now, but the latest news has got to be keeping all but the most somnolent of legacy automaker execs awake at night. According to Germany’s Federal ...
Read More
What are Elon Musk's views on education?
Elon Musk believes the current education system could be vastly improved. And it's not surprising. According to Mairem Del Río at Entrepreneur, Musk didn't like school as a child. "I hated going to school when I was little, it was tortur...
Read More
Plug-in cars overtake diesels in European sales
Many milestones will be passed along the journey to the coming world of electric-powered transportation. Another one recently receded into the rearview mirror, as sales of plug-in cars surpassed those of diesels in the European market.  ...
Read More

Posted in Electric Vehicles, Elon Musk, Tesla, tesla news, TSLA



Join over 60,000 Tesla fans, enter your email to subscribe:

Accessories for Tesla