Tesla Built 42% More Electric Vehicles in Q3 Compared To Q2

After the interference caused by the pandemic in Q2, Tesla has boosted its manufacturing activity. This has led the company to break its previous records and make a new one by increasing the number of deliveries between period of July 1st to September 31st.  

In this period Tesla built around 365,923 electric vehicles which helped the company to gain a 54 percent increase in year-over-year (YoY) production. In Q3 of 2021, the company produced 237,823 vehicles, which is 41.5% more than in Q2. 

In Q3 the company produced 19,935 vehicles which included Model S and Model X, while 18,672 vehicles were delivered. For Model 3 and Model Y those figures were said to be 345,988 and 345,988. 

Tesla reported that the total number of vehicles delivered in Q3 was 343,830 and these were the highest number of cars delivered in any quarter. However, this total didn’t match the expectations of analysts who expected it to be 359,162. Tesla manufactured around 20,000 more vehicles than it was able to deliver during Q3.

The company’s CEO Elon Musk noted that Tesla is experiencing a remarkable increase in deliveries at the end of each quarter. He stated that the reason behind this increase is the Shanghai Gigafactory, which recently manufactured its 1 millionth car. 

Tesla stated that in Q3 the company began transforming to a more even regional mix of vehicle builds each week. This step has led the company to an increase in cars in transit at the end of the quarter.

Tesla experienced a sudden drop in manufacturing and delivery of cars in Q2 due to the suspended work at the Shanghai factory in March caused by the outbreak of COVID-19 in China. Now, production has resumed, while two new Gigafactories have been launched in Berlin and Texas to boost the production numbers. More insights about the manufacturing and deliveries will come out when the company announces its Q3 financial results on October 19th