TESLA REPORTS Q3 DELIVERIES AND PRODUCTION

EV Channels Review

Tesla's Q3 2021 delivery and production report reveals a mixed bag, with deliveries exceeding analyst expectations at 241,300 units, significantly outperforming the consensus of 222,000. This strong delivery performance is attributed partly to a drawdown in inventory. However, production figures fell short of the host's expectations, reaching 237,823 units against a forecast of 251,000. The host highlights supply chain and logistics issues as the primary reason for this production miss, noting a shift in Tesla's communication tone regarding these challenges compared to previous quarters. Despite the production shortfall, the overall sentiment is positive, emphasizing Tesla's impressive year-over-year growth (73% in deliveries) and its ability to expand production in a challenging automotive market. The low inventory levels (around 7 days of supply) suggest potential for further growth in Q4, contingent on supply chain improvements.