Tesla delivered 241,300 electric vehicles in the third quarter of 2021, the company announced on Saturday.
Deliveries for the quarter exceeded expectations. Analysts predict that Tesla will deliver around 220,900 electric cars by September 30, according to StreetAccount estimates.
The company produced 237,823 cars through September 30, 2021, Tesla said in its report. 228,882 of these were for the Model 3 and Y models, the cheaper mid-range offers.
The remainder amounted to 8,941 of the S and X models.
Last quarter, Tesla shipped 201,250 vehicles and produced 206,421 cars, although production of its S and X models fell below 2,500.
“Our delivery count should be viewed as a bit conservative, as we only count a car as delivered when it is handed over to the customer and all papers are correct. Statement.
Tesla does not break down the delivery figures by model, nor do they have any sales or production figures from China compared to the USA (deliveries are the company’s closest approximation of vehicle sales.)
Elon MuskThe electric vehicle maker now manufactures cars at its Shanghai facility and its US facility in Fremont, California, while continuing to manufacture batteries domestically with Panasonic at its sprawling facility outside of Reno, Nevada.
For the period ending September 30, 2021, Tesla started shipping some lithium iron phosphate batteries from China for use in Model 3 vehicles for customers in the US
Tesla has also temporarily shut down some operations at its vehicle assembly plant in Shanghai, where it makes cars for customers in China and Europe. The stops have been attributed to a global semiconductor shortage that has challenged Tesla year-round and plagued the entire auto industry.
New battery electric models, especially Rivians R1T and the long-delayed luxury of Lucid Motors Lucid Air limousine, are now in production and are being sold to customers in the United States, an indication that competition is intensifying for Tesla in key markets.
At the same time, interest in electric vehicles is growing, even in the US, which is lagging behind China and Europe.
According to a June 2021 survey by Pew research, 39% of Americans say that “the next time they buy a vehicle, there is at least a certain chance they are seriously considering an electric drive.” About 7% of Americans said they have already bought a battery-only electric or hybrid electric vehicle.
This demand is only encouraged by rising fuel costs and environmental regulations.
For example in China, Government programs make it much faster and cheaper to get license plates for electric vehicles than vehicles with internal combustion engines. The Chinese government has also offered subsidies, tax breaks, and invested in charging infrastructure to encourage the production and adoption of electric vehicles.
Meanwhile, President Joe Biden has a volunteer destination for half of all new car sales in the USA there should be electric models by 2030 – including battery electrics, plug-in hybrids and hydrogen fuel cell vehicles. The move is part of the Biden government’s commitment to Cut US emissions by half by 2030.
Piper Sandler Senior research analyst Alexander Potter, a bull with a target price of $ 1,200 on Tesla stock, wrote in a note on Sept. 27:
“Tesla’s share of the battery electric vehicle (BEV) market will almost certainly decrease – as many competitors have not yet started selling BEVs. However, we assume that Tesla’s share of the overall market will continue to grow, and we emphasize that BEV’s market share is falling. ”Should not be taken as a bearish signal … After all, Tesla competes with vehicles of all types – not just other electric vehicles . “
Sam Fiorani, vice president of Auto Forecast Solutions, agreed. He said, “Tesla is so far ahead of the competition in the EV market that it is unlikely that anyone will overtake them anytime soon. The Tesla cult will bind buyers to the brand in the years to come. Even Audi and Mercedes are difficult to acquire the same aura. While their market share will decline, Tesla will maintain the leadership position for years to come without any major missteps within the company. “