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Tesla Car Sales Set A Record In Q3 2020

Tesla Car Sales Set A Record In Q3 2020

Tesla sold 139,300 vehicles in Q3 2020, which is 35% more than in the previous quarter, and 31% more than in the same period in 2019, according to the official press release of the company. That is a record figure for Tesla's quarterly sales, which, in addition, were higher than analysts' forecasts. In particular, Refinitiv analysts, quoted by Reuters, expected sales at the level of 134.7 thousand.

Since the beginning of the year, Tesla has sold 318 thousand cars. Thus, to reach the target level of half a million vehicles a year, the company needs to sell almost 182 thousand cars in the fourth quarter.

As follows from the company's reports, over the past quarter, a little more than 145 thousand cars were produced, of which 124 thousand were produced. Model 3 and Model Y and 15K Model S and Model X. Compared to the previous quarter, production increased by 44%. The company will publish its financial statements for the quarter at the end of October.

Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q3 earnings. 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.

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