Tesla reported that sales of its cars in the third quarter broke records as the supply chain snafus of the pandemic abated, but the numbers still fell far short of analyst’s expectations.
Tesla reported it sold 343,830 cars and SUVs in the third quarter, which was well above the 254,695 vehicle deliveries is reported in April through June. However the numbers came in well below Wall Street estimates, such as FactSet’s consensus estimate of 371,000 vehicles delivered.
Tesla noted in the report that it is having difficulty locating sufficient transportation services to deliver its vehicles. The company said that it had a sizable number of vehicles which had been assembled, and which were in transit during the end of the quarter, and ultimately they would be counted as sales once the deliveries were complete.
The company produced 365,923 vehicles in the July to September period. In total this year, the company has 908,573 delivered vehicles, meaning it will need to finish strong to hit the company’s prediction of 50% annual sales growth.
The company had 936,172 deliveries last year, which would mean they will need to deliver over 1.4 million vehicles this year to make good on the desired 50% increase.