Quarterly deliveries are one of the most closely watched indicators for Tesla. They are also widely seen as a barometer of consumer demand for electric vehicles amid a transition away from the internal combustion engine.
“We would like to thank our customers for their patience as we work through global supply chain and logistics challenges,” Tesla said in a statement Saturday. Deliveries of the Model 3 and Y accounted for the overwhelming number of cars shipped. The results beat an average estimate for deliveries of 223,677 from 12 analysts surveyed by Bloomberg and also surpassed the average projection of 221,952 that Tesla sent to investors. The latest results were higher than than the company’s previous record for 201,250 vehicles in the second quarter.
“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,” said analyst Dan Ives of Wedbush Securities in a note to clients Saturday.
Shares of the EV market leader closed Friday little changed at $775.22. The stock is up less than 10% so far this year and trails the broader S&P 500, which it
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