Tesla closes on delivery targets

Tesla delivered a record 97,000 vehicles globally in the third quarter of this year – including 79,600 Model 3s and 17,400 Model S and X vehicles.

About 2000 Model 3s are reported to have been delivered in Australia since late August (although latest VFACTs figures don’t show it), and 359 in September in New Zealand – making it New Zealand’s third most popular passenger vehicle.

Tesla chief executive officer Elon Musk forecast Tesla would deliver 360,000 to 400,000 vehicles this year – a 45% to 65% increase on 2018 – looking likely if just over 100,000 Teslas are delivered in the fourth quarter.

FactSet analysts expect Tesla to deliver 106,000 units.

Tesla just missed Wall Street’s expectations of 99,000 deliveries during the three months ended September 30, based on FactSet average estimates, CNBC reports.

The California-based EV company expects to enter the fourth quarter with an increase in its order backlog and will focus on increasing production to meet demand.

Whether production levels continue after back orders have been filled remains to be seen.

But Tesla expects that with many deliveries coming from customers other than reservation holders the upward trend should continue, especially with production due to start soon at its China Gigafactory.