Tesla built 365,923 electric vehicles in Q3, up 42 percent from Q2

  • In Business
  • 2022-10-02 19:13:43Z
  • By Engadget

After pandemic-related disruptions in Q2, Tesla ramped up its manufacturing capacity again last quarter, leading the company to make a record number of deliveries between July 1st and September 30th. The company built 365,923 electric vehicles during the period. That marks a year over-year production increase of nearly 54 percent, as Tesla manufactured 237,823 cars in Q3 2021. Production was also up by 41.5 percent from Q2 2022, when the automaker built 258,580 vehicles.

The company produced 19,935 Model S and Model X cars in Q3 and delivered 18,672. For the Model 3 and Model Y, those figures were 345,988 and 345,988, respectively. In total, Tesla says it was able to deliver 343,830 vehicles in Q3, the most it has delivered in any quarter to date. However, that was below expectations, according to Reuters. On average, analysts anticipated that Tesla would deliver 359,162 EVs during the quarter.

Tesla built around 20,000 more vehicles that it was able to deliver during Q3. "As our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost during these peak logistics weeks," Tesla said in a statement.

CEO Elon Musk noted last year that Tesla sees a significant increase in deliveries at the end of every quarter. That's because the Shanghai Gigafactory, which recently built its 1 millionth car, manufactures EVs bound for Europe and other countries in the first half of each quarter, "then cars for far away parts of China, then cars for nearby parts of China," Musk said.

"In Q3, we began transitioning to a more even regional mix of vehicle builds each week, which led to an increase in cars in transit at the end of the quarter," Tesla said. "These cars have been ordered and will be delivered to customers upon arrival at their destination."

The number of cars Tesla manufactured and delivered dropped dramatically in Q2 2022. It was forced to suspend work at the Shanghai factory in March due to a COVID-19 outbreak in China. Production at the plant has resumed, while recently opened Gigafactories in Berlin and Texas have helped the company significantly improve its manufacturing numbers. We'll learn more about what the uptick in production and deliveries means for Tesla's bottom line when the company announces its Q3 financial results on October 19th.


More Related News

Musk set to finally take wraps off Tesla truck - to tough crowd
Musk set to finally take wraps off Tesla truck - to tough crowd
  • US
  • 2022-12-01 11:09:06Z

Tesla is set to unveil on Thursday its long-delayed Semi, a 18-wheeler heavy duty vehicle that has faced skepticism from industry experts who doubt battery...

Tesla hoping electric
Tesla hoping electric 'Semi' will shake up heavy duty market

After years of delays, US automaker Tesla is expected on Thursday to deliver its first battery-powered semi truck, with which it hopes to get a jump start on...

Wall Street Analysts Haven
Wall Street Analysts Haven't Been This Bullish on Tesla Since 2015

(Bloomberg) -- Tesla Inc. is getting a strong show of faith from a group that Chief Executive Officer Elon Musk once blasted for doubting the company's...

Renault-Airbus partnership to develop new generation of electric batteries
Renault-Airbus partnership to develop new generation of electric batteries

European planemaker Airbus announced on Wednesday a partnership with French carmaker Renault to develop a new generation of electric batteries for cars and...

Competitors chip away at Tesla
Competitors chip away at Tesla's U.S. electric vehicle share

New electric vehicle models from multiple automakers are starting to chip away at Tesla's dominance of the U.S. EV market, according to national vehicle...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply


Top News: Business