Tesla delivers record 241,300 vehicles in third quarter, beats analyst estimates

The logo of automaker Tesla is seen at a dealership in London, Britain, May 14, 2021. REUTERS / Matthew Childs / File Photo

Oct. 2 (Reuters) – Tesla Inc (TSLA.O) said on Saturday it delivered a record 241,300 electric cars in the third quarter, beating Wall Street estimates after chief executive Elon Musk asked staff to “switch to super hardcore “to achieve the goals.

Analysts expected the electric car maker to deliver 229,242 vehicles, according to data from Refinitiv.

Tesla weathered the chip crisis better than its rivals, with overall shipments increasing 20% ​​between July and September from its previous high in the second quarter, marking the sixth consecutive quarter-over-quarter gain. .

In China, increased exports to Europe and the introduction of a cheaper Model Y have helped boost Tesla’s production, analysts say.

Musk had reported an extremely serious parts shortage at the electric car maker and urged employees to push deliveries to the end of the quarter, Reuters reported last month, citing an internal company email. [nL1N2QB2F3]

Tesla said it delivered 232,025 of its Model 3 compact cars and Model Y sport utility vehicles and 9,275 of its flagship Model S and Model X cars to customers during the quarter.

Total production in the third quarter increased by more than 15% to 237,823 vehicles from the previous quarter.

Reporting by Juby Babu and Nivedita Balu in Bengaluru and Hyunjoo Jin in SAN FRANCISCO Editing by Marguerita Choy

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