EV maker Tesla Inc revealed on Saturday its electric vehicle delivery figures for the third financial quarter, significantly exceeding experts’ estimates. As Elon Musk urged staff to “go super hardcore” in their Q3 sales push, Tesla deliveries surged by 20% in the period of July to September, thus marking the sixth consecutive period of quarter-on-quarter gains.
Tesla delivered 241,300 vehicles globally during Q3, far exceeding analysts’ average estimates of 229,242 deliveries. This is also a 73% increase from the same quarter last year.
These strong performance figures suggest that Tesla has done significantly better than many of its rivals to deal with the ongoing global chip supply crisis.
According to Reuters, Musk revealed that the company suffered a severe parts shortage at the beginning of Q3, referring to an internal company email.
Analysts have cited the introduction of a cheaper Model Y as well as China’s rising exports to Europe as drivers for Tesla’s deliveries increase.
In contrast to Tesla’s performance, rivals such as General Motors and Honda posted declining U.S. sales in the third quarter.
Total production rose during the period of July through September by 15% to 237,823 vehicles.
