Tesla Inc (TSLA.O) announced on Saturday that it delivered a record number of electric vehicles in the third quarter, topping Wall Street expectations after Chief Executive Elon Musk instructed employees to “go super hardcore” in order to meet a quarter-end delivery deadline.
Tesla has fared better than its competitors in the semiconductor issue, with overall deliveries up 20% from the previous record set in the second quarter, marking the sixth consecutive quarter-on-quarter increase.
Analysts say that growing exports to Europe and the introduction of a less expensive Model Y helped Tesla increase manufacturing in China. Musk stated Tesla experienced an exceptionally acute parts shortage earlier in the third quarter and asked employees to make a quarter-end delivery push, citing an internal corporate email.
In the July to September quarter, Tesla shipped 241,300 vehicles worldwide, rising 73 percent from the previous year. According to Refinitiv data, analysts projected the electric car producer to deliver 229,242 units.
Due to a prolonged chip scarcity, GM (GM.N), Honda (7267.T), and some of its larger competitors saw sales decreased in the third quarter in the United States. GM’s third-quarter sales in the United States plunged nearly 33% to their lowest level in more than a decade.
Tesla said it delivered 232,025 Model 3 small cars and Model Y sport-utility vehicles to customers in the first quarter, as well as 9,275 Model S and Model X automobiles. In the third quarter, total output increased by nearly 15% to 237,823 automobiles, compared to the previous quarter.
