Tesla surpasses its previous record by delivering 139,300 vehicles in Q3
The most popular models were the Model Y and Model 3.
At the beginning of the year, no one could have predicted the coronavirus pandemic. At that time, Tesla’s CEO, Elon Musk, said they planned to deliver 500,000 vehicles in 2020. Due to the pandemic, Tesla’s factory in Shanghai was closed for a short period, whereas the Freemont factory was closed for almost two months.
So it is fair to assume that because of the setbacks, it is not likely that Tesla will produce half a million vehicles by the end of 2020.
However, that doesn’t mean that they aren’t cranking out vehicles. According to a recent press release, Tesla managed to break its production and delivery record by shipping 139,300 vehicles in the third quarter. Compared to the same quarter in 2019, that’s a 45% increase.
Their old shipment record was 112,000 vehicles in the fourth quarter of 2019. Almost 89% of the shipped models in this quarter were the Model Y crossover and the Model 3 sedan, whereas the remaining 11% consisted of the Tesla X and the Model S.
The news of Tesla’s record-breaking quarter broke out just a week after Battery Day. During the “Tesla Battery Day,” Elon Musk outlined their plans to produce a $25,000 electric car. That plan included Tesla mining its own raw materials, which means Tesla can manufacture its own batteries. That, in theory, should help them get close to the $25,000 mark.
Unfortunately for shareholders, the stock market wasn’t too thrilled by that. Instead, Tesla’s shares dropped a couple of points after the announcement. According to many experts, the stock market reacted like that because many of the predictions are still years away.
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