Tesla reports 'impressive' third quarter sales with 241,300 deliveries

Tesla recently said that it has delivered around 241,300 electric vehicles in the third quarter even though it struggled with a global shortage of computer chips that have hit the entire auto industry. According to AP, Tesla, which is based in Palo Alto, California, saw sales from July through September beat Wall Street estimates of 227,000 sales worldwide. Tesla’s third-quarter sales rose 72 per cent over the 140,000 deliveries that the firm made for the same period a year ago. 

Associated Press revealed that so far this year, Elon Musk’s electric vehicle company has sold around 627,300 vehicles. This puts Tesla on pace to soundly beat last year’s total of 499,550. Wedbush analyst Daniel Ives reportedly told the investors that the pace of Tesla deliveries in the US and China has been strong for the past month or so. 

Ives said that this means that an “eye-popping growth trajectory” heading into the fourth quarter and 2022 for Musk & Co. However, Ives also estimated that the chip storage will knock approximately 40,000 vehicles from Tesla’s annual delivery numbers. He estimated the Tesla deliveries to be at least 865,000 vehicles, with a bull case of around 900,000. 

In a note to investors, Ives wrote, “In a nutshell, with chip shortage headwinds, China demand still recovering from earlier this year, and EV competition coming from all angles, Tesla’s ability to navigate these challenges this quarter have been very impressive.”

Coming back to the third quarter sales, Tesla’s smaller Model 3 sedan and Y SUV led the way with 232,025 sales. Around 9,275 Tesla’s larger Model S and X were sold. The electric vehicle company said that it produced approximately 237,823 vehicles for the quarter. 

Tesla in India 

Meanwhile, in recent months, Tesla has amplified the buzz around its presence in India, as it won the Centre's approval for four of its variants, names of which are undisclosed yet, reported Tesla Club India on Twitter. The company currently provides four variants, namely Model S, Model X, Model Y and Model 3, with the Cybertruck in process. This development is a level up for the leader in the electric car market, as Tesla reinvented its steering wheel from the conventional steering system to an aeroplane-like steering wheel for the new Model S released back in January. 

(With inputs from AP)