Tesla beats 3rd quarter vehicle delivery by 73% year over year
Tesla deliveries up over 20% 3rd quarter 2021
Tesla continues to forge ahead defying the chip shortage environment plaguing many of big automakers and smashes production goals by over 15% delivering a total of 241,300 cars in the 3rd Quarter beating, analyst forecasts by 9%.
232,025 Tesla deliveries consisted of the Model 3 and the Model Y, with 9,275 Model S and Model X vehicles delivered. These results represent the highest number of cars ever delivered by Tesla in one quarter. Tesla's 3rd Quarter deliveries also represent an increase of 20% compared with the 2nd quarter’s 201,250 deliveries and a YOY (year over year) increase of 73%
Tesla models just unloaded at European Port
Loaded Up for last mile Delivery
Tesla 3rd Qtr. 2021 ¹
| Production | Deliveries | |
|---|---|---|
| Total | 237,823 | 241,399 |
| Model 3/Y | 228,882 | 232,025 |
| Model S/X | 8,941 | 9,275 |
Tesla also shows a significant ramp-up of Model S/Y production with almost 9,000 units compared to just 2,340 units in 2nd quarter. ¹ Telsa does not disclose it deliveries by model by region, but demand is particularly strong in Europe, UK and parts of Scandinavia, (Norway, Finland and Sweden). An indicator that demand is still strong in the United States is that a limited quantity of batteries were needed to be exported from Shanghai to the US.
Tesla’s growth up over 50% 2021 vs. 2020
Tesla 2021 compared to 2020 deliveries
| Year | 1st Qtr. | 2nd Qtr. | 3rd Qtr. | Total |
|---|---|---|---|---|
| 2021 | 184,800 | 201,250 | 241,300 | 627,350 |
| 2020 | 88,400 | 90,650 | 139,300 | 318,350 |
2021 deliveries have almost doubled for the first three quarters over the 2020. Tesla significantly beat Wall Street expectations of 222,700 vehicles to be delivered in 3rd quarter 2021.
Comparison of Previous 3rd Quarter Deliveries
Tesla 3rd Qtr. Deliveries 2012-2021
| Year | 3rd Qtr. Deliveries |
|---|---|
| 2012 | 321 |
| 2013 | 5,516 |
| 2014 | 7,785 |
| 2015 | 11,603 |
| 2016 | 24,821 |
| 2017 | 26,137 |
| 2018 | 83,775 |
| 2019 | 97,186 |
| 2020 | 139,353 |
| 2021 | 241,300 |
In the end — Final Thoughts
It is not too late to get in to Tesla and see considerable return. See below what the analysts say. Today, Telsa is pumping out 2,400 cars per day at its Shanghai, China Gigafactory. With the Model Y production at Gigafactory Austin, Texas and Berlin, Germany expected to come online by the end of the year, Tesla should exit 2021 with an annual production rate of over 1 million electric vehicles and be poised for banner production in 2022.
These are areas where Tesla stands out. By tracking its performance in these areas will help you decide if Tesla fits your financial goals.
-Role in the growing electric vehicle market
-Execution on Production and logistics
-Cost-cutting battery technology
-Best in Class Car Technology
Giga-Factory Berlin launched March, 2022 and has begun Delivering Model Y Teslas
““ I believe Tesla could achieve a growth rate “meaningfully above 50%” for 2021.” said Elon Musk”
What the Street Thinks about Tesla
Tesla is on track to hit that growth rate for 2021. Ark Invest still holds a $3,000 Target Price for Tesla in 2025. On October 2nd in a tweet, she called out GM, who blames their decline in sales for the 2nd half of 2021, solely due to the chip shortage. I thinks she’s saying sure, it’s a factor but not to that extent.
Cathy Wood Tweet October 2 questioning GM crying wolf about the chip shortage correlation to 33% dip in sales
Tesla 3rd Qtr. 2021 Analyst Ratings
| Rating | Analyst Action | Date |
|---|---|---|
| Upgrade | Jefferies: Hold to Buy | 8/9/2021 |
| Initiated | KGI Securities: to Outperform | 8/2/2021 |
| Upgrade | DZ Bank: Sell to Buy | 7/29/2021 |
| Maintains | Canaccord Genuity: to Buy | 7/27/2021 |
| Maintains | Goldman Sachs: to Buy | 7/27/2021 |
Tesla delivers to Europe. A Tesla in the wild in Hamburg, Germany
Matt Maley, chief market strategist at Miller Tabak, told CNBC’s “Trading Nation”. “I think you want to continue to ride the wave right now,” he said. “On a short-term basis, it still looks good.”
Goldman Sachs lowers its global auto production forecast to reflect the tight supply and demand environment that is anticipated to last several more quarters as the global chip shortage and other supply chain issues impact production. The firm now sees 75M autos produced in 2021 vs. 83M prior forecast and 85M in 2022 vs. 90M prior forecast.
The unexpected backdrop sets up some automakers to outperform, per Goldman. "Several of our Buy rated stocks strike a good balance in our opinion of having strong financial models (e.g., attractive margins and/or [free cash flow]) that we think can provide resiliency in a difficult supply chain environment," notes analyst Mark Delaney. In particular, Tesla (NASDAQ:TSLA) is called an industry leader that is well positioned for growth. Tesla has a Buy rating at Goldman and price target of $875 that imply double-digit upside. Morgan Stanley has a buy-equivalent rating on Tesla and a price target of $900.
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