Â鶹ӰÊÓ

Skip to main content

Tesla reports stronger-than-expected Q3 sales

Share

Tesla says it delivered 241,300 electric vehicles in the third quarter even as it wrestled with a global shortage of computer chips that has hit the entire auto industry.

The Palo Alto, California, company's sales from July through September beat Wall Street estimates of 227,000 sales worldwide, according to data provider FactSet.

Third-quarter sales rose 72% over the 140,000 deliveries Tesla made for the same period a year ago.

So far this year, Tesla has sold around 627,300 vehicles. That puts it on pace to soundly beat last year's total of 499,550.

Wedbush analyst Daniel Ives wrote in a note to investors that the pace of electric vehicle deliveries in the U.S. and China has been strong for the past month or so. That means an "eye-popping growth trajectory heading into 4Q and 2022 for (CEO Elon) Musk & Co."

Still, Ives estimated that the chip shortage will knock 40,000 vehicles from Tesla's annual delivery number. He estimates the deliveries to be at least 865,000 vehicles, with a bull case of around 900,000.

"In a nutshell, with chip shortage headwinds, China demand still recovering from earlier this year, and EV competition coming from all angles, Tesla's ability to navigate these challenges this quarter have been very impressive," he wrote.

In the third quarter, the smaller Model 3 sedan and Y SUV led the way with 232,025 sales, followed by the larger Models S and X at 9,275. Tesla said it produced 237,823 vehicles for the quarter.

CTVNews.ca Top Stories

Childhood sleep issues may raise suicide risk, study finds

If your child sometimes has trouble sleeping, it may be easy to chalk it up to a phase they will grow out of one day. But a new study suggests possible serious consequences for this line of thought — such as a higher risk for suicidal ideation or attempts when they are older.

Local Spotlight

Cole Haas is more than just an avid fan of the F.W. Johnson Wildcats football team. He's a fixture on the sidelines, a source of encouragement, and a beloved member of the team.

Getting a photograph of a rainbow? Common. Getting a photo of a lightning strike? Rare. Getting a photo of both at the same time? Extremely rare, but it happened to a Manitoba photographer this week.

An anonymous business owner paid off the mortgage for a New Brunswick not-for-profit.

They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.

A growing group of brides and wedding photographers from across the province say they have been taken for tens of thousands of dollars by a Barrie, Ont. wedding photographer.

Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.

The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.

The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.

It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.

Stay Connected