Tesla Inc confirmed on 3rd October, Saturday that it has successfully dealt a record of highest electric cars at the end of the 3rd quarter of 2021 leaving behind the estimates made by Wall Street following which Chief Executive Elon Musk called employees to “go super hardcore” to make the highest number of deliveries by the end of this quarter.
Tesla succeeded to tarnish the crisis
Well, Tesla succeeded to fade its chip impasse in a far better way than its contenders, with the total surge in deliveries by 20% in the month from July to September in comparison to its earlier record of deliveries at the end of the second quarter and hence calling for the achievement of the sixth consecutive quarter surplus.
What do analysts have to say about production in China?
In China, increasing trading to Europe and the launch of a less expensive Model Y aid in favor of increasing the production of Tesla.
What did Elon Musk say about the shortage of extremely important parts?
As per the report of last month with the reference of an internal email of the company, Elon Musk said Tesla went through some extreme shortage of severe parts during the beginning of the third quarter and requested all the employees to make efforts to raise the delivery by the end of the quarter. According to the mail, he said: “The end of the quarter delivery wave is unusually high this time.”
How many vehicles did Tesla deliver?
Tesla managed to deliver 241,300 vehicles over the world between July and September which is 73% higher than the number of delivered vehicles of the previous year. According to Refinitiv data, the estimate made by the analyst had shown the makers of the electric cars to deliver nearly 229,242 vehicles.
As said by analyst Dan Ives of Wedbush Securities on Saturday “With the chip shortage a major overhang on the auto space and logistical issues globally these delivery numbers were ‘eye-popping and speaks to an EV demand trajectory that looks quite robust for Tesla heading into 4Q and 2022,”
What about the rival companies?
Some of the biggest competitor companies of Tesla-like General Motors (GM.N), Honda (7267.T), and some others have reported downward graphs in the United States sales in the third quarter and the major reason behind the decline in sales are extended chip shortage. As per the report, the third quarter United States sales of General Motors have fallen by 33% approximately which is allegedly the lowest sales they have recorded in over the past 10 years.
According to Tesla, it has successfully dispatched a total of 232,025 of its Model 3 compact cars and Model Y sport utility vehicles and 9275 of its flagship Model S and Model X cars to their consumers in the third quarter.
At the end third quarter, the production of Tesla increased by 15% to 234,823 vehicles in comparison with the previous quarter.
What about sales made in China?
The portfolio manager at the Future Fund and also a Tesla trader, Gary Black, confirmed that the deliveries of Tesla were driven by record sales in China, which was “putting to rest any notion China demand is slowing.”
After the record of highest deliveries, Tesla faces an investigation from both the controllers and the public and also because of the continuously increasing competition from local contenders.
However, Tesla has not disclosed the September sales figure in China till now and in August as well, reportedly, its Shanghai factory has exported nearly two-thirds quantity of its vehicles to Asian countries and Europe.