Tesla sales bounce back in Q3 but fall short of estimates
Tesla’s sales rose 35% in the July-September period compared to the second quarter as the company’s huge factory in China got past supply chain issues and pandemic restrictions
AUSTIN, Texas (AP) — Tesla’s sales rose 35% in the July-September period compared to the second quarter as the company's huge factory in China got past supply chain issues and pandemic restrictions.
The electric vehicle and solar panel company said Sunday it sold 343,830 cars and SUVs in the third quarter compared with 254,695 deliveries made from April through June.
But the delivery numbers still fell far short of Wall Street estimates. Analysts polled by data provider FactSet expected sales of 371,000 vehicles.
Tesla said it's becoming more challenging to find transportation capacity at a reasonable cost when it needs to move vehicles from its factories to its customers. Tesla said it had higher than usual numbers of vehicles in transit at the end of the quarter that will count as sales once they're delivered to customers.
