EVs: Tesla Crosses 200k+ Quarterly Delivery Milestone
Electric carmaker Tesla has crossed a major milestone in its business of car deliveries. For the first time in a three-month period, it delivered over 200,000 cars to customers, setting a record for itself.
- Tesla delivered 201,250 vehicles in the second quarter of 2021, compared to nearly 185,000 in the preceding quarter. In the same second quarter, the company produced 206,421 vehicles.
- While Tesla crossed a major delivery milestone, it slightly fell short of investor and analyst expectations with forecasts ranging from 190,000-231,000 deliveries, data polled from FactSet shows.
- Of the 201,250 vehicles Tesla delivered, the vast majority as usual (199,360) were Model 3 and Y vehicles while Model S and X made up a minority (1,890). The Model S and X are the higher-end Tesla models so are usually produced much less.
- Tesla is continuing to build up its production capacity, with new factories under construction in Texas and Germany. Currently, it has two car-churning factories in the US and China.
- Tesla doesn’t provide regional breakdowns of its delivery numbers, leaving us guessing and estimating, especially in China where it began producing cars barely two years ago. Over there, it hasn’t really been good as Tesla recently recalled over 285,000 cars due to a safety risk with the cars’ cruise control.
- In 2020, Tesla barely missed its goal of delivering 500,000 cars after delivering 499,550 at the year’s end. This year, it could beat that goal by a significant margin.
- Tesla closed trading on Friday at $678.90 per share, with a market cap of $654bn.