Tesla Vehicle Deliveries Hit Another Record in Q3, Beats Analysts’ Estimates (Reuters) -Tesla Inc said on Saturday it had delivered a record electric cars in the third quarter, beating Wall Street estimates after Chief Executive Elon Musk asked staff to “go super hardcore” to make a quarter-end delivery push. Reuters 3 hours ago (Oct 02, 2021 05:52 PM GMT) Tesla has weathered the chip crisis better than rivals, with its overall deliveries surging 20% in the July to September period from its previous record in the second quarter, marking the sixth consecutive quarter-on-quarter gains. . In China, rising exports to Europe and the introduction of a cheaper Model Y helped boost Tesla’s production, analysts said. Musk said Tesla suffered an extremely severe parts shortage earlier in the third quarter and had urged employees to make quarter-end delivery push, Reuters reported last month, citing an internal company email. “The end of quarter delivery wave is unusually high this time,” he said in the email. Tesla delivered 241,300 vehicles globally in the July to September quarter, up 73% from a year earlier. Analysts had expected the electric-car maker to deliver 229,242 vehicles, according to Refinitiv data. General Motors, Honda and some of its bigger rivals posted declines in U.S. sales in the third quarter, hit by a prolonged chip shortage. GM’s third-quarter U.S. sales fell nearly 33% to its lowest level in more than a decade. 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 in the quarter. Total production in the third quarter rose over 15% to 237,823 vehicles from the prior quarter. CHINA Gary Black, portfolio manager at the Future Fund and a Tesla bull, said that Tesla’s deliveries were driven by record deliveries in China, which was “putting to rest any notion China demand is slowing.” Tesla faces scrutiny from both regulators and the public and growing competition from local rivals. Tesla has not released its September China sales yet, and in August, its Shanghai factory exported more than two thirds of its vehicles to Europe and Asian countries.
Tesla (TSLA) pushes Norway electric car sales to yet another record Fred Lambert - Oct. 1st 2021 10:51 am Tesla (TSLA) had strong deliveries in Norway last month, and it helped the leading EV market to achieve yet another record. Norway has been achieving some incredible levels of EV penetration in the market. With new electric models hitting the market over the last few months, we are seeing a rapid ramp-up. Tesla Model Y has been making a big difference as of late. In August, the first month of Model Y deliveries in the market, the electric SUV pushed Norway to new records with almost 72% market share for all-electric vehicles. The most impressive part is that Model Y deliveries started just a week before the end of the month, and the electric SUV still managed to become the best-selling vehicle in the country. Now the data is in from September, and all-electric car shares reached 77.5% of the market via Norway office of statistics: Of 17,992 first-time registered new passenger cars in September, 13,941 were pure electric cars, ie 77.5 per cent. This is an increase of 45.8 per cent compared to the same month last year. In addition, there are 2,508 rechargeable hybrids, and then the number of cars with a cord ends at 91.5 percent in September. The previous September record was last year, when the number was 15,552 first-time registered new passenger cars. The first full month of Model Y deliveries made all the difference, and Tesla is shown dominating the market in September. Here are the top 10 best-selling vehicles in Norway last month: 1. Tesla Model Y 3,564 2. Tesla Model 3 2,218 3. Skoda Enyaq 787 4. Toyota RAV4 702 5. Audi e-tron 672 6. Volkswagen ID.4 659 7. Hyundai IONIQ 5 652 8. Ford Mustang Mach-E 600 9. VolkswagenID.3 456 10. Nissan Leaf 410 Ebil, Norway’s association of EV owners, interestingly noted that 91.3% of private car buyers went with electric cars last month. Company cars and leases are what are keeping internal combustion engine sales alive in the country. Norway aims to completely phase out new internal combustion engine vehicles by 2025, but as we recently reported, sales are currently tracking to go all-electric by mid-2022.
As I predicted TSLA well positioned for a yr end run if the mkt even stays flat . The mkt has spoken and TSLA is the future . But make no mistake Wall Street enabled this just like they did for Amzn . Tsla’s stock price has allowed basically unlimited funding to succeed .
Very good point. It also exceeds what is needed for automotive which allows Elon to tackle the most intractable problems in various domains. So, we have: Financial leverage Operating leverage We can include Scope leverage. If you look at this company as a portfolio of risks, much like a conglomerate, we can see that they are balls out on risks much like ARK. TSLA represents the over extension of growth stocks in this market era.
I think you guys are making a chicken or yoke argument. Tesla’s success is a result of massive funding or is its massive funding a result of its success? History is full of examples of massive funding with spectacular failures. Taking Amazon as another example is not knowing your history. That company barely made profits for over 10 years and was laughed off by the financial sector all of those years before Bezos wiped the smirk off of their faces to become today's behemoth. Ironically, most of the criticism today comes from the other side of the spectrum, the labor unions, rightfully kept out of Amazon. Perhaps the same can be said of Musk and Tesla. There's so much emotional reaction to that company, from ridiculous fanboiz "Musk can do no wrong" to some of the absurd negative comments read on this forum from traders who can't wrap their heads around Tesla’s real success. What Tesla and Amazon have in common is they are true disruptors, fundamentally changing the way things are. You can try to profit from it, but predicting either's demise is fool's errand.
Isn't the only profitable part of Amazon still just the cloud computing division? This would make it very close to Tesla being profitable mostly because of the carbon credits. These companies in another era, where money wasn't cheap and freely available, might not have gone nearly as far. So you might call them disruptors, but I would rather call them just lucky. Bezos didn't invent shopping over the internet, and Musk didn't invent the electric car. They just ran with an idea they already knew worked and perfected it. Next you're gonna tell me that Facebook was somehow special and a true disruptor???
I don't question NoahA's intelligence, just his judgment, for a simple Google search clarifies Amazon's profitability. As for Tesla, every Q of every year you probably repeated the same argument while its share price went from 50 to 4500. No wisdom there.
Per my post #98 of Sept. 25: If it breaks 800 early (next week), it could peak at 850 before 10/21 Q3 numbers. I expect a drop not long after to test support, around 750. If, on the other hand, it doesn't break 800 early (flat or down until 10/20), then expect 800 resistance and support tested at 700. Next goal is 900 by year end, which is a flat year for investors.