Tesla's Record Q3 Deliveries and 2020 Goal of 500,000 Vehicle Production
In the third quarter of this year, Tesla delivered a total of 139,300 of its electric cars to its customers, reports Tesla's Investor Relations. The company announced this on the Friday before the US stock market opening and thus largely achieved the high expectations that analysts had published in recent days. Deliveries were around 24 percent higher than in the previous record quarter at the end of 2019. In the three months up to and including September 145,036 Tesla Model 3, Model Y, Model S, and Model X were produced, also far more than in any other quarter in history from Tesla.
Tesla shares initially react negatively
The Tesla share, which had risen steadily in the days before, initially reacted negatively to the publication of the figures before the market. The reason could be that a new record in the quarter was already priced into the price - a few days ago, analysts even expected an average of 144,000 deliveries in Q3.
Over the last 9 months, Tesla has delivered more vehicles than they did in the 10-year span of 2008-2017.
Nevertheless, Teslamag notes that Tesla has now clearly overshadowed its own delivery record from the last quarter of 2019. At that time, 112,000 Teslas were handed over to their customers worldwide and almost 105,000 were built. New records were expected for the beginning of 2020, but then the coronavirus brought first the pandemic and then the lockdowns, including the economic crisis. Tesla initially failed to achieve new records in this environment but held up far better than other car manufacturers.
2020 Tesla Goal
At the beginning of the year, Tesla had named at least 500,000 electric cars sold as a target for the whole of 2020 and did not withdraw that even during the Corona crisis. At Battery Day last week, CEO Elon Musk made a slightly different forecast: He spoke of 30-40 percent growth compared to 2019, which would correspond to 478,000 to 515,000 deliveries. To hit the bottom, Tesla would need 159,650 completed sales for the remainder of this year.
Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded TorqueNews.com in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.