PALO ALTO, California: Tesla says it delivered 241,300 electric vehicles in the third quarter even as it wrestled with a global shortage of computer chips that has hit the entire auto industry.
The Palo Alto, California, company’s sales from July through September beat Wall Street estimates of 227,000 sales worldwide, according to data provider FactSet.
Third-quarter sales rose 72 percent over the 140,000 deliveries Tesla made for the same period a year ago.
So far this year, Tesla has sold around 627,300 vehicles. That puts it on pace to soundly beat last year’s total of 499,550.
Wedbush analyst Daniel Ives wrote in a note to investors that the pace of electric vehicle deliveries in the US and China has been strong for the past month or so. That means an “eye-popping growth trajectory heading into 4Q and 2022 for (CEO Elon) Musk & Co.”
Still, Ives estimated that the chip shortage will knock 40,000 vehicles from Tesla’s annual delivery number. He estimates the deliveries to be at least 865,000 vehicles, with a bull case of around 900,000.
“In a nutshell, with chip shortage headwinds, China demand still recovering from earlier this year, and EV competition coming from all angles, Tesla’s ability to navigate these challenges this quarter have been very impressive,” he wrote.
In the third quarter, the smaller Model 3 sedan and Y SUV led the way with 232,025 sales, followed by the larger Models S and X at 9,275. Tesla said it produced 237,823 vehicles for the quarter.
Tesla reports stronger-than-expected Q3 sales
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Tesla reports stronger-than-expected Q3 sales
- The company’s sales from July through September beat Wall Street estimates of 227,000 sales worldwide
Royal Commission for AlUla, SURJ partner to develop sports sector
RIYADH: The Royal Commission for AlUla has signed a memorandum of collaboration with SURJ Sports Investment to explore the development of sports programs and content in AlUla, evaluate opportunities for joint investment, and assess potential hosting of high‑quality sporting events, thereby strengthening AlUla’s position as a global destination for sport and major events.
The memorandum seeks to establish a framework for future collaboration in the field of sports investment, the activation of initiatives and programs related to hosting tournaments and events, and the exploration of opportunities within SURJ’s investment portfolio, in alignment with the commission’s strategic directions and in support of diversifying the sports landscape in the governorate.
The areas of cooperation include exploring opportunities to host and activate the Professional Fighters League MENA series in AlUla, developing tennis and polo, as well as cycling, athletics, and show jumping.
This also includes assessing investment opportunities in complementary sports content, recovery and rehabilitation programs, training camps, and the attraction of international championships, contributing to the strengthening of AlUla’s presence on global sporting calendars.
The memorandum further provides for cooperation in evaluating and developing polo in AlUla, including studying the possibility of awarding multi-year hosting rights starting from 2027, in line with AlUla’s long-term vision for the development of equestrian and heritage sports.
The Royal Commission for AlUla and SURJ Sports Investment emphasized the importance of integration in developing year-round promotional and activation opportunities, and leveraging SURJ’s intellectual property rights and content, contributing to the establishment of a comprehensive, multi-sport ecosystem in AlUla that supports its economic and developmental objectives.
The commission reaffirmed its commitment to expanding its strategic partnerships and strengthening the role of the sports sector as a key driver of sustainable development, reflecting AlUla’s position as a leading destination for sporting and cultural events at both local and global levels.
