Tesla’s stellar September sees it retain top EV spot

Tesla’s Fremont factory produces the Model S, X, 3 and Y. Photos: Tesla

Tesla delivered a record number of vehicles worldwide in the third quarter, smashing estimates and keeping its spot as the number one EV maker in the world.

The automaker delivered 139,300 vehicles, beating its prior all-time high of 112,000 in the fourth quarter of 2019 and above the 129,950 projected by analysts surveyed by Bloomberg.

Shares of Tesla, which have rallied more than 435 per cent this year, dropped to US$430.28 on Friday after President Donald Trump disclosed a positive test for COVID-19.

“Overall, these are stellar numbers,” Dan Ives, an analyst at Wedbush, told Europe Automotive News. “The read-through here is that China was a source of strength.”

The Tesla Model 3 (right) is the top selling car so far, but the Y will beat it.

Tesla CEO Elon Musk told employees and investors that a record quarter was within reach in an internal email in late September, says Europe Automotive News.

Tesla did not say whether it will still deliver at least 500,000 vehicles this year, up 36 per cent over 2019. The company has handed over 318,350 cars to customers as of September 30. It will need to deliver around 181,650 vehicles globally to reach its target.

Last month Tesla made it into the top 10 new vehicle sales in New Zealand for the first time with 158 units registered for the month, including 139 Model 3 cars.

Globally the Model 3 made up the bulk of deliveries in the third quarter, but the results included the Model Y crossover, which first started reaching U.S. customers in mid-March. Musk has predicted it will be a big seller, potentially topping the combined volume of all other vehicles in Tesla’s lineup.

Tesla assembles the Model S, X, 3 and Y at its U.S. assembly plant in Fremont, California. It also manufactures the Model 3 at a factory in Shanghai.