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Tesla Withstands Chip Crisis, Beats Analysts’ Sales Forecasts By Breaking Records

Tesla dodges the global chip crisis, holds up better than its competitors. The company announced on Saturday that the level of sales during the third quarter reached 241,300 vehicles , breaking the company record. Figures that markedly beat the forecasts of StreetAccount analysts, who expected Tesla to sell only 220,900 cars globally.

An error of more than 20,000 vehicles, which in a sector like the one in which the company operates is an incredible figure, since Tesla competes in a segment in which the demand is still not comparable to that of combustion engine vehicles .

This sales growth comes at a time when the semiconductor supply crisis is hitting the electric car industry. A deficit that seems to last until 2023 and that is making the production of these vehicles more expensive .

Notably, Elon Musk said Tesla suffered an extremely severe parts shortage early in the third quarter, according to Reuters . Despite this, Tesla’s overall sales rose 20% in the July-September period from their previous record in the second quarter, marking the sixth consecutive quarter-on-quarter gain.

Tesla grows thanks to its mid-range vehicles
Much of this growth is due to increased exports from China to Europe and the introduction of a cheaper Model Y, as claimed by analysts.

According to the company’s report, Tesla produced 237,823 cars during the last quarter. Of which 228,882 were its Model 3 and Model Y cars , its most affordable mid-range offerings. The rest of the production corresponds to its Model S and Model X vehicles, which accounted for 8,941 of the total.

In the same trend, last quarter, the company sold 201,250 cars and produced 206,421 units. However, the production of its Model S and Model X vehicles fell below 2,500 .

“Our sales count should be considered a bit conservative, as we only register a car as delivered if it is transferred to the customer and all paperwork is correct. Final figures could vary by as much as 0.5% or more, ” explained the company in a statement collected by CNBC .

The other side of the coin corresponds to Tesla’s competitors, whose sales have registered an opposite trend. General Motors, Honda and some of their biggest rivals posted declines in US sales in the third quarter, stemming from prolonged chip shortages. Thus, General Motors sales fell almost 33% , to their lowest level in more than a decade.

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