Tesla (TSLA) just announced its Q3 2020 production and vehicle deliveries and the numbers show that the automaker had its best quarter yet. Tesla delivered 139,300 Model Y, 3, S, and X combined. The total vehicles produced at Tesla’s Fremont, California, and Shanghai, China factories are also a record of 145,036 vehicles.
In our last day of Q3 deliveries push report, we quoted Tesla expert Troy Teslike expecting around 143,000 vehicle deliveries and the actual numbers didn’t fall too short of the expectations.
The following comparison bar chart shows how the Tesla deliveries QoQ and YoY are growing and Q3 2020 shows exponential growth.
Since Tesla does not release Model 3 and Model Y delivery numbers separately, the green portion of the above bar is just an estimate. China is still waiting for the Model Y compact SUV so the sales from the country are only for Model 3 as of now.
Q1 of every year is a slow down in car sales, it’s a global fact and the chart above also shows that but still, Tesla’s Q1 2020 wasn’t that bad and then the world went into the pandemic, yet Tesla stayed resilient in Q2 of this year and turned a profit.
Compared to Q3 2019 deliveries of 97,000 vehicles (Model S, 3, X) the Q3 2020 deliveries of 139,300 (Model S, 3, X, Y) — Tesla vehicle deliveries grew by a staggering 43%. This has happened for Tesla at a time when almost the rest of the automotive industry is showing a downward trend.
Bearing this growth in mind investors and analysts are expecting Tesla to post a record profit, the 5th consecutive profitable quarter since Tesla (TSLA) went public.
Galileo Russell, who is a Tesla retail investor, analyst, and active community member shared his thoughts on Tesla’s record profitability this quarter in his latest video (below), goes over various data to convince us that TSLA is moving in the right direction.
Disclaimer: This is not investment advice, risk is all your own. I am not a TSLA investor and not willing to become one in the next 72 hours.
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