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Tesla sales continue to surge in the face of chip shortages
Tesla said "What chip shortage?!" Lol. Impressive stuff in my opinion. They're gonna hit that 1million goal by years end. Wild.
Tesla delivered 241,300 electric vehicles during the third quarter of 2021, the company reported Saturday.
The quarter’s deliveries topped expectations. Analysts predicted that Tesla would deliver around 220,900 electric cars during this period, according to estimates compiled by StreetAccount as of September 30.
The company produced 237,823 cars in the period ending September 30, 2021, Tesla said in its report. Of that, 228,882 were its Model 3 and Y vehicles, its more affordable mid-range offerings.
The remainder produced amounted to 8,941 of its Model S and X vehicles.
Last quarter, Tesla delivered 201,250 vehicles and produced 206,421 cars, even as production of its Model S and X vehicles fell below 2,500.
“Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more,” the company said in a statement.
Tesla does not break out delivery numbers by model, nor does it report sales or production numbers from China versus the U.S. (Deliveries are the company’s closest approximation of vehicle sales.)
Tesla put customers through repeated, unexpected delivery delays during the quarter. In their release on Saturday, the company acknowledged the delays, blaming them on “global supply chain and logistics challenges,” then thanked customers for their patience.
The press release announcing the production and deliveries report was dated Austin, Texas. Tesla’s web site still lists its headquarters as being in Palo Alto, Calif., but Elon Musk moved to Texas last year and the company is building a new factory in the Austin area.
Tesla is also planning to host its annual shareholder meeting at its plant, now under construction, near Austin on October 7. Musk previously threatened to move Tesla’s headquarters out of California in the spring of 2020 when the state’s Covid-related health orders required Tesla’s Fremont factory to temporarily suspend operations for a few weeks.
WATCH NOW VIDEO11:43
California Governor Gavin Newsom on federal aid and economic recoveryElon Musk’s electric vehicle maker now produces cars at its Shanghai plant, and U.S. factory in Fremont, California, while continuing to produce batteries domestically with Panasonic at their sprawling facility outside of Reno, Nevada.
During the period ending September 30, 2021, Tesla began to ship some lithium iron phosphate batteries from China to be used in Model 3 vehicles made for customers in the U.S.
Tesla also temporarily suspended some operations at its vehicle assembly plant in Shanghai, where it makes cars for customers in China and Europe. The halts were attributed to a global semiconductor shortage, which has posed a challenge to Tesla all year, and plagued the entire auto industry.
New battery electric models, notably Rivian’s R1T and Lucid Motors’ long-delayed luxury Lucid Air sedan, are now in production and selling to customers in the U.S., an indication that competition is heating up in key markets for Tesla.
At the same time, interest in electric vehicles is rising too, even in the U.S. a laggard in adoption compared to China and Europe.
According to a June 2021 survey from Pew Research, 39% of Americans say that “the next time they purchase a vehicle, they are at least somewhat likely to seriously consider electric.” About 7% of Americans said they have already purchased a pure battery electric or hybrid-electric vehicle.
That demand is only encouraged by rising fuel costs and environmental regulations.
For example, in China, government programs make it far quicker and cheaper to get license plates for electric vehicles than internal combustion engine vehicles. The Chinese government has also offered subsidies, tax breaks and invested in charging infrastructure to encourage EV production and adoption.
Meanwhile, President Joe Biden set a voluntary target for half of all new vehicle sales in the US to be electric models by 2030-- including battery electrics, plug-in hybrids, and hydrogen fuel cell vehicles. The move is part of the Biden administration’s pledge to reduce U.S. emissions by in half by 2030.
Piper Sandler senior research analyst Alexander Potter, a bull with a $1,200 price target for shares of Tesla, wrote in a note on September 27:
“Tesla’s share of the battery electric vehicle (BEV) market will almost certainly fall – because many peers haven’t started selling BEVs yet. But we fully expect Tesla’s share of the overall market to continue rising, and we stress that declining BEV market share should not be considered a bearish signal... After all, Tesla is competing against vehicles of all types – not just against other electric vehicles.”
Auto Forecast Solutions Vice President Sam Fiorani agreed. He said, “Tesla has such a head start on the competition in the EV market that it is unlikely for anyone to pass them anytime soon. The Cult of Tesla will keep buyers attached to the brand for years to come. Even Audi and Mercedes are finding it difficult to tap into the same type of aura. While their market share will decrease, Tesla will keep the leadership position for years to come without a major misstep from within the company.”
Very unlikely Tesla builds 1 million cars this year will be around 900,000. Still amazing what they were able to do compared to most other auto makers. Where is the Model X? Don't think Tesla made any the entire year or maybe a few hundred.
Tesla should be able to easily 1.8x production again in 2022. Tesla is at the very beginning of the growth curve.
Lucid looks to have caught up or surpassed Tesla is motor efficiency. Too good to be true? Not sure. It's one thing to say Tesla has no advantage etc. but to short the stock on top of that, bring the PAIN. Wonder how many people Spiegel convinced to lose a pile of money.
One huge advantage for Tesla in 2022 is having cars built in Europe. Having to ship them from the United States and a lesser extent China to all over Europe is extremely difficult and costly.
Lucid looks to have caught up or surpassed Tesla is motor efficiency. Too good to be true? Not sure. It's one thing to say Tesla has no advantage etc. but to short the stock on top of that, bring the PAIN. Wonder how many people Spiegel convinced to lose a pile of money.
One huge advantage for Tesla in 2022 is having cars built in Europe. Having to ship them from the United States and a lesser extent China to all over Europe is extremely difficult and costly.
Yes...Lucid seems to have comparable technology. I think Tesla's seem a little more powerful especially the first 60mph and their new carbon sleeve motor tech is actually breathtaking in terms of the horsepower curve but Lucid seems more luxurious overall. I really hope Lucid succeeds.
Where's my Roadster 2? Delivered in a SEMI, of course...
Kidding aside; another banner quarter for Tesla. I would like to see the Model 2 produced so more people could experience these amazing cars.
Giga Austin and Berlin should start production by year's end. 2M cars next year?
Think it will be about 100K short of that. In 5 years Tesla has grown 10x in sales that is without a Camry-like priced car and no Cybertruck. Which seems like it will never happen same with Semi and Roadster 2.
Good numbers Not a lot of Tesla X or S models produced which are the highest margins. Disappointing to see batteries shipping from China for assembly in the California.. wonder how the subscription services will do..
They're gonna hit that 1million goal by years end.
I think they will.
What is interesting is that the headline from this thread is not the same headline form the CNBC article posted.
Tesla delivered 241,300 vehicles in the third quarter, topping expectations
Originally Posted by bitkahuna
deleting this and following tired old posts.
Do you want misleading fake news?
the endgaget article uses the worldwide sales of Tesla against the domestic sales for GM in the US.
In the third quarter of 2021 Tesla sold 241,300 cars. That's 102,000 more than the same time period last year. Sure, that's only slightly more than half of the 446,997 cars that GM sold in the last three months. But, that number represents a steep 33-percent decline year-over-year for GM.
Good numbers Not a lot of Tesla X or S models produced which are the highest margins. Disappointing to see batteries shipping from China for assembly in the California.. wonder how the subscription services will do..I think they will.
Model X is not in production yet. The new one is getting ready for release soon. Model S is capacity limited due to chip shortage.
Batteries shipping from China are LFP and adds to the inventory because Giga Nevada is at full capacity. Demand greatly exceeds supply so it's a happy problem.
Do you want misleading fake news?
the endgaget article uses the worldwide sales of Tesla against the domestic sales for GM in the US.
yeah that's really lame.
regardless, i think tesla is very well positioned in the current crazy global economy and shortages. yes they're impacted, but they don't have decades of baggage and supply chain behind them (although of course they have suppliers), and the company is far more nimble and able to change than old companies.
regardless, i think tesla is very well positioned in the current crazy global economy and shortages. yes they're impacted, but they don't have decades of baggage and supply chain behind them (although of course they have suppliers), and the company is far more nimble and able to change than old companies.
Or it could be just a much smaller chip order so they can get supply as they only sell a couple hundred thousand units vs other OEMs. Given they are so small, they probably don't have much leverage with the chip suppliers.
Or it could be just a much smaller chip order so they can get supply as they only sell a couple hundred thousand units vs other OEMs. Given they are so small, they probably don't have much leverage with the chip suppliers.
Teslas use far more chips per vehicle than most cars due to their tech. The leverage they have over other manufacturers is that they code their own firmware. Chips by themselves do nothing.
Teslas use far more chips per vehicle than most cars due to their tech. The leverage they have over other manufacturers is that they code their own firmware. Chips by themselves do nothing.
True but it's much easier to fulfill Tesla's orders because they sell a fraction of a big OEM. I'm sure a combination of them being able to change their code and much smaller volumes contribute to them being able to build good quantity of vehicles per quarter.