Tesla hits new high for vehicle deliveries
By Susan Mate
19:00, 2 October 2021
EV producer Tesla topped analysts' expectations in its third quarter by delivering more than 241,000 vehicles, the company announced Saturday.
That beat the 221,952 deliveries Tesla originally projected. The figure surpassed the company’s previous quarterly high of 201,250 deliveries, achieved in the previous quarter.
Of the Q3 deliveries, 222,882 were of its more affordable Model 3 and Y vehicles.
“We would like to thank our customers for their patience as we work through global supply chain and logistics challenges,” the company said in a statement.
Longterm rebound predicted
Wedbush Securities equity research analyst Daniel Ives has said that he believes supply chain issues in China caused by the Covid pandemic can be overcome by Tesla in the long-term. “Tesla just announced its 3Q delivery numbers of 241k, which beat even the bull case whisper number on the Street,” Ives posted on Twitter on Saturday afternoon.
“These 3Q Tesla delivery numbers are hard to poke holes in and will be a major feather in the cap for the bulls and broader EV space,” he wrote.
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Autopilot hardware complaints
Customers complained early last year after they received new Model 3s containing less advanced Autopilot hardware than promised.
Tesla later told frustrated customers it had supply issues, but would replace the lower-performance hardware once its production capacity fully recovers. Some Tesla buyers in Florida and California also complained of long delivery delays, according to a CNBC report.
The EV-maker is facing mounting US federal scrutiny into its vehicles’ 'Autopilot' and full self-driving functions (FSD). Senators Richard Blumenthal of Connecticut and Ed Markey of Massachusetts asked new Federal Trade Commission (FTC) chair Lina Khan in a letter on Aug. 18 to investigate Tesla for “potentially deceptive and unfair practices” related to its marketing of partial self-driving features.
Despite their Autopilot and FSD labels, the functions are not fully automatic – Tesla vehicles are required by law to be operated by humans.
Tesla noted in its statement that financial results for the third quarter will be revealed in its next report, which is expected in late October.
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