Tesla reports stronger-than-expected Q3 sales

Tesla says it delivered 241,300 electrical vehicles successful the 3rd 4th adjacent arsenic it wrestled with a planetary shortage of machine chips that has deed the full car industry.

The Palo Alto, California, company's sales from July done September bushed Wall Street estimates of 227,000 income worldwide, according to information supplier FactSet.

Third-quarter income roseate 72% implicit the 140,000 deliveries Tesla made for the aforesaid play a twelvemonth ago.

So acold this year, Tesla has sold astir 627,300 vehicles. That puts it connected gait to soundly bushed past year's full of 499,550.

Wedbush expert Daniel Ives wrote successful a enactment to investors that the gait of electrical vehicle deliveries successful the U.S. and China has been beardown for the past period oregon so. That means an "eye-popping maturation trajectory heading into 4Q and 2022 for (CEO Elon) Musk & Co."

Still, Ives estimated that the spot shortage volition sound 40,000 vehicles from Tesla's yearly delivery number. He estimates the deliveries to beryllium astatine slightest 865,000 vehicles, with a bull lawsuit of astir 900,000.

"In a nutshell, with spot shortage headwinds, China request inactive recovering from earlier this year, and EV contention coming from each angles, Tesla's quality to navigate these challenges this 4th person been precise impressive," helium wrote.

In the 3rd quarter, the smaller Model 3 sedan and Y SUV led the mode with 232,025 sales, followed by the larger Models S and X astatine 9,275. Tesla said it produced 237,823 vehicles for the quarter.

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