Have you seen more Teslas (TSLA) popping up in your neighborhood? That shouldn’t come as a surprise as Elon Musk’s company has delivered 241,300 cars in the third quarter of 2021 — that’s almost 20% higher than the previous quarter! This number beats analysts’ expectations by nearly 9% and sets the company up for the highest number of units delivered in a year. Models 3 and Y drove the majority of the surge in sales, making up 96% of deliveries.
Tesla’s sales performance is indicative of EVs’ positive momentum, as consumers look for more environmentally friendly options for their daily means of transportation.
why it matters
Tesla's share price didn't change much on Monday (up 0.9%), as investors anxiously await the company's Q3 financial numbers to determine the overall health of the manufacturer. Nevertheless, Tesla's shares are up nearly 10% so far this year.