Tesla reported record EV deliveries in Q3

Tesla reported record EV deliveries in Q3

On Friday, the US electric carmaker, Tesla Incorporation, reported 139,300 electric cars in the third quarter, beating analysts’ expectations and making a record for the quarterly sales. The company shares fell 4.8% in pre-market.

The EV firm beat consensus by Refinitiv, which forecasted 134,720 deliveries, but fell short of some US market analysts’ predictions. On Friday, Tesla was among the biggest losers in the US Wall Street.

In total, Tesla has delivered around 318,000 cars this year, including the third-quarter sales, putting the company in a compulsion to deliver at least 182,000 in the next quarter to attain its yearly target of half a million by the end of 2020. The company’s total EV output rose to 145,036 electric cars, rising 76% as compared to the Q2, this year.

Meanwhile, the company’s strong sales report was majorly supported by positive sales from its new Shanghai manufacturing unit, which is the only Tesla factory outside California. The company started Model 3 delivery in China from December last year and aimed to manufacture 150,000 sedan models a year and 250,000 deliveries per annum in the upcoming years, including Tesla’s Model Y.

Tesla registered around 23,300 vehicles in China in July & August, with September data not released yet.

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