Should I but Tesla Stock?

How many cars did Tesla deliver in Q3?

According to Tesla, the EV leader had a record-breaking third quarter after delivering 241,300 vehicles, but can the growth keep coming?

Love them, hate them, be completely indifferent to them; whatever your preference, there’s still no avoiding the Tesla (NASDAQ: TSLA) and Elon Musk mania that often engulfs Wall Street. 

And given Tesla’s latest quarterly figures, who can blame them?

How many vehicles did Tesla deliver in Q3?

Tesla delivered 241,300 vehicles during the third quarter, despite ongoing supply chain issues. For context, that’s: 

  • 9% more than analysts expected at 220,900
  • 20% higher than Q2’s 201,250 deliveries
  • a 73% increase on the 139,300 vehicles delivered in Q3, 2020
  • Approximately 48% of the total deliveries made in all of 2020

To add to the pleasantness of this surprise, all that we’ve heard from Tesla and the wider auto industry over the past year is that there is a semiconductor chip shortage impacting manufacturing. No such issue for Tesla it seems, which produced 237,823 electric vehicles in the third quarter, another record for the company.

ARK Invest head Cathy Wood had her own perspective on this in a tweet on Saturday:

“Today, $TSLA announced that in the third quarter it sold 241,300 vehicles globally, up 73% year over year (YoY) and 20% quarter over quarter (QOQ). Meanwhile, $GM blamed the ~33% YoY decline in its US sales on chip shortages. What? #EVs require 3-5x more chips per car produced!”

So, what does this mean for Tesla investors? 

It’s possible that supply chain issues may be coming to an end — though I wouldn’t hold my breath — while Tesla’s new Berlin gigafactory looks set to get final approval in November. This could make for an exciting 2022 as Musk & Co. ramp up production and potentially breach that one million sales in a calendar year mark.

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