Published On: Sun, Oct 4th, 2020

Q3 2020 Sees Growth for Tesla Inc.

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The demand for vehicles throughout the COVID-19 pandemic has been minimal, prompting multiple retailers to shut their doors & for largescale corporations to announce their lowest profits in decades. One company that’s avoided this issue is Tesla, who confirmed that they’d delivered more vehicles in Q3 2020 than any other quarter in their corporate history. The previous record of 112,000 Tesla cars was eliminated by 27,300 vehicles. That means Tesla delivered 139,300 vehicles throughout the third quarter of this month. It’s the most extensive sales figure seen for auto manufacturers in 2020.

Tesla clarified that 145+ thousand cars had been manufactured throughout the third quarter, enabling them to begin their overstock project. Creating an influx of their available models & having stock for future purchases will allow Tesla to dedicate itself towards lowering the cost of electric vehicles. That’ll be accomplished by creating exclusive renewable resources, mining for required materials needed for manufacturing, and innovating former technologies to become more cost-efficient. CEO Elon Musk hopes that via this plan, the cost of Tesla vehicles can become $25,000.00 to $30,000.00.

The Quarterly & Yearly Growth for Tesla

Tesla Incorporated has experienced three consecutive months of increased deliveries. The 1st quarter saw Tesla deliver more than 88+ thousand vehicles, with that number increasing by only two thousand in the 2nd quarter. It’d mark a notable increase during the 3rd quarter, which saw the 139+ thousand vehicles delivered. Tesla’s previous record of 112,000 cars provided was obtained during Q4 2020. Elon Musk’s workforce made an evident turnaround for profits in a short period, which most auto manufacturers haven’t accomplished throughout 2020.

When questioned on what their final delivery range could be for 2020, Tesla clarified that 500+ thousand vehicles would be shipped before the end of Q4. That’s a 36% increase over the previous maximum that’s been sent-out over one year. 2019 saw 318+ thousand Tesla vehicles shipped to buyers worldwide. With the level of growth that’s displayed by Elon Musk’s Tesla per year, it’s no wonder other auto manufacturers like Ford & Honda are working towards creating their electric equivalents. It’ll be nearly impossible for other manufacturers to compete against Tesla, with the company holding priority market share on electric vehicles.

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