Tesla delivered 241,300 electric vehicles during the third quarter of 2021, the company reported Saturday
The quarter's deliveries topped expectations
Analysts predicted that Tesla would deliver around 220,900 electric cars during this period cnbc.com/2021/10/02/tes…
The company produced 237,823 cars in the period ending September 30, 2021, Tesla said in its report
Model 3 and Y vehicles were 228,882 units, representing its more affordable mid-range offerings
Model S and X vehicles were 8,941 units
Last quarter Tesla delivered 201,250 vehicles and produced 206,421 cars, even as production of its Model S and X vehicles fell below 2,500
"Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more," the company said in a statement
Tesla does not break out delivery numbers by model, nor does it report sales or production numbers from China versus the U.S.
Deliveries are the company's closest approximation of vehicle sales
Tesla put customers through repeated, unexpected delivery delays during the quarter
In their release on Saturday the company acknowledged the delays, blaming them on "global supply chain and logistics challenges," and thanked customers for their patience
The press release announcing the Production and Deliveries Report was dated Austin, Texas
Tesla's web site still lists its headquarters as being in Palo Alto in California, but Elon Musk personally moved to Texas last year and the company is building a new factory near Austin
Tesla is also planning to host its annual shareholder meeting at that new plant now under construction near Austin on October 7
Musk previously threatened to move Tesla's headquarters out of California in the spring of 2020 when the state's Covid-related health orders required Tesla's Fremont factory to temporarily suspend operations for a few weeks
At the time, California Gov. Gavin Newsom told CNBC he was "not worried about Elon leaving any time soon," and voiced support for Tesla
Elon Musk's electric vehicle maker now produces cars at its Shanghai plant and its U.S. factory in Fremont, California, while continuing to produce batteries domestically with Panasonic at their sprawling facility outside of Reno, Nevada
During the period ending September 30, 2021, Tesla began to ship some lithium iron phosphate LFP battery packs from China to be used in Model 3 vehicles made for customers in the U.S.
Tesla temporarily suspended some operations at its vehicle assembly plant in Shanghai, where it makes cars for customers in China and Europe
The halts were attributed to a global semiconductor shortage, which has challenged Tesla all year, and plagued the entire auto industry
New battery electric models, notably Rivian's R1T and Lucid Motors' long-delayed luxury Lucid Air sedan, are now in production and selling to customers in the U.S., an indication that competition is warming up in key markets for Tesla
At the same time, interest in electric vehicles is rising too, even in the U.S. which is a laggard in BEV adoption compared to China and Europe
According to a June 2021 survey from Pew Research, 39% of Americans say that "the next time they purchase a vehicle, they are at least somewhat likely to seriously consider electric"
About 7% of Americans said they have already purchased a pure battery electric or hybrid-electric vehicle
That demand is only encouraged by rising fuel costs and environmental regulations
For example, in China, government programs make it far quicker and cheaper to get license plates for electric vehicles than internal combustion engine vehicles
The Chinese government has also offered subsidies, tax breaks and invested in charging infrastructure to encourage EV production and adoption
Meanwhile, President Joe Biden set a voluntary target for half of all new vehicle sales in the US to be electric models by 2030, including battery electrics, plug-in hybrids, and hydrogen fuel cell vehicles
The move is part of the Biden administration's pledge to reduce U.S. emissions by in half by 2030
Piper Sandler senior research analyst Alexander Potter with a $1,200 price target for shares of Tesla wrote in a note on September 27:
"Tesla's share of the battery electric vehicle BEV market will almost certainly fall because many peers haven't started selling BEVs yet"
"But we fully expect Tesla's share of the overall market to continue rising, and we stress that declining BEV market share should not be considered a bearish signal . . . After all, Tesla is competing against vehicles of all types – not just against other electric vehicles"
Auto Forecast Solutions Vice President Sam Fiorani agreed
He said :
"Tesla has such a head start on the competition in the EV market that it is unlikely for anyone to pass them anytime soon. The Cult of Tesla will keep buyers attached to the brand for years to come"
"Even Audi and Mercedes are finding it difficult to tap into the same type of aura. While their market share will decrease, Tesla will keep the leadership position for years to come without a major misstep from within the company"
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VW bosses want to radically rebuild their main plant in Wolfsburg to compete against Tesla
Last Thursday Volkswagen boss Herbert Diess and brand boss Ralf Brandstätter called all 120 top managers together in Wolfsburg for a crisis meeting businessinsider.de/wirtschaft/kam…
Compared to Tesla and Chinese manufacturers, VW is too expensive and slow, they stressed
Now it is time to take up the "fight against Grünheide"
Therefore the plans for the main plant in Wolfsburg are to be revised and made more radical
In order to keep up, old buildings would probably soon be demolished and new ones erected
HEADLINE #1 : "AUDI LOSES ITS 2020 DOMINANCE OF NORWAY MARKET"
Audi slipped EIGHT PLACES down from its undoubted Market Leadership position in 2020
Tesla takes TOP TWO positions in 2021 Q3
"Ford eats VW's lunch" says noted analyst GJ 007
HEADLINE #2 "VW STRUGGLES TO RESIST HEATED COMPETITION FROM SKODA IN 2021"
The upstart brand races past VW's failing ID.3 and overtakes weak competition from the losing Audi eTron as its volume collapses after a successful 2020
General Motors and Ford Motor said Thursday they will cut additional production because of the nagging semiconductor shortage that has hit global auto production reuters.com/business/autos…
GM, the largest U.S. automaker, said it will extend by two weeks a halt to Chevrolet Blazer sport utility vehicle production at its Ramos plant in Mexico because of the ongoing chips shortage as it resumes production at other North American plants
GM said production will resume Monday at its Lansing Grand River Assembly plant that builds the Chevrolet Camaro and the Cadillac CT4 and CT5
Cadillac production has been halted at the Michigan plant since May