Tesla breaks quarterly vehicle delivery record

Tesla announced Friday that it delivered 139,300 vehicles in the past quarter, a new record for the electric automaker.

The company’s surpassed the 137,000 forecast by Wall Street, and handily beat its previous high-water mark of 119,000 vehicle deliveries in a quarter, which was set at the end of 2019.

The more affordable Model 3 and Model Y models led the way, with 124,100 making their way to customers, while the Model S and Model X cars moved 15,200 units.

The company produced just over 145,000 vehicles in the quarter, and said that inventory has declined as it continues “to improve our delivery efficiency.”

“This puts Musk & Co. in prime position to hit the area code of 500k units for the year which six months ago was not even on the map for the bulls,” Wedbush analyst Dan Ives said in a note.

Shares of Tesla were down 2.9 percent Friday morning, a rebound from the 5 percent they were down when the markets reacted to President Trump’s positive Covid-19 diagnosis.

Also on Friday, CEO Elon Musk tweeted that Tesla will enter India by 2021.

“Next year for sure,” Musk tweeted in response to a post with a picture of a T-shirt reading “India wants Tesla.”

“Thanks for waiting,” he added.


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