Tesla sees big jump in third quarter car production
In the 2020 third quarter, the company produced 145,036 vehicles and sold 139,300.
That 64% increase in production suggests the electric vehicle maker will report strong earnings for the 2021 third quarter. It’s unclear when the company will release those numbers, however, given that Tesla generally does not engage with the professional news media.
Analysts Daniel Ives and John Katsingris of Wedbush Securities said Tesla’s production was roughly 10,000 more than their estimates.
“Taking a step back, with the chip shortage a major overhang on the auto space and logistical issues globally, these delivery numbers were ‘eye popping’ and speaks to an EV demand trajectory that looks quite robust for Tesla heading into 4Q and 2022,” Ives and Katsingris said.
Honda also emerged with some wins in the most recent quarter, setting a new annual sales mark with 82,446 electrified vehicle sales.
“The enduring nature of the microchip shortage and port congestion issues continue to constrain the entire industry, but we are encouraged by the record sales of Honda models where we have adequate inventory,” said Dave Gardner, executive vice president of National Operations at American Honda.
CNN’s Chris Isidore contributed to this report.