Tesla’s Quarterly EV Deliveries Leap 42%–However Miss Bullish Expectations

The company said it delivered 343,000 battery-powered autos worldwide throughout the third quarter, up from 241,300 a 12 months in the past. That was under a consensus expectation of 364,660 deliveries, according to CNBC, citing figures from FactSet’s Avenue Account. Tesla additionally stated it 365,000 sedans and crossovers at its vegetation in California, Texas, China and Germany, probably the most ever in a single quarter.

The corporate, which in contrast to competing automakers gives no particulars about gross sales and manufacturing in particular person world markets, cited difficulties it’s having in getting autos to clients shortly as output expands.

“As our manufacturing volumes proceed to develop, it’s turning into more and more difficult to safe car transportation capability and at an inexpensive price throughout these peak logistics weeks,” Tesla stated on its website. “In Q3, we started transitioning to a extra even regional combine of car builds every week, which led to a rise in automobiles in transit on the finish of the quarter. These automobiles have been ordered and will probably be delivered to clients upon arrival at their vacation spot.”

The quarterly figures come two days after Tesla’s quirky AI Day, the place Musk debuted a tough model of the humanoid robotic–wheeled onto stage by staff–that he claims will eventually cost less than $20,000 and be used as a laborer to carry out tough, repetitive duties at its meeting vegetation. The corporate additionally gave a prolonged replace on its efforts to good self-driving know-how at an occasion that appeared targeted primarily on recruiting laptop scientists and engineers.