Tesla delivered a record number of cars worldwide in the third quarter, surpassing analyst expectations and maintaining a global leader in electric vehicle sales. The Palo Alto, California-based automaker delivered 139,300 vehicles in the third quarter, rewriting the historical record of 112,000 vehicles in the fourth quarter of 2019 , and surpassing the 129,950 predicted by analysts surveyed by Bloomberg.
After the company announced sales data, Tesla’s share price, which has risen by more than 435% this year, narrowed its decline in early trading. As of 10:12 am New York time, the stock fell 3.5% to $432.28. As U.S. President Donald Trump tested positive for Covid-19, the stock market fell across the board.
“Overall, this is a pretty number,” Wedbush analyst Dan Ives said in a telephone interview on Friday. “The interpretation shows that China is the source of strength.”
CEO Elon Musk hinted to employees and investors in internal e-mails in September that the season is expected to set a record.
The quarterly figures are a barometer of global demand for electric vehicles. Tesla hopes to stay ahead of the competition with start-ups and established car companies. These competitors plan to launch dozens of competitive battery-powered cars in the next few years. According to a recent McKinsey report, Tesla’s share of the global electric vehicle market last year was 16%, the highest in the industry.
Tesla did not disclose whether it will still deliver at least 500,000 cars this year, which will increase 36% from 2019. As of September 30, the company has delivered 318,350 vehicles to customers. In the fourth quarter, approximately 181,650 vehicles will be delivered globally to achieve the target.
At the company’s “Battery Day” event last month, Musk reiterated his goal of 500,000 vehicles in 2020, saying that it expects deliveries this year to increase by 30% to 40%.