Tesla sets a new record

Tesla Inc. (NASDAQ: TSLA) reported its Q3 2022 delivery numbers on Sunday.

World’s largest automaker delivered a total of 343,830 cars (up by 42.49% year-over-year) in the third quarter – setting a new quarterly record.

The deliveries in Q3 consisted of:

• 18,672 Model S/X
• 325,158 Model 3/Y

The automaker produced 365,923 vehicles in Q3.

”Historically, our delivery volumes have skewed towards the end of each quarter due to regional batch building of cars.  As our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost during these peak logistics weeks.  In Q3, we began transitioning to a more even regional mix of vehicle builds each week, which led to an increase in cars in transit at the end of the quarter.  These cars have been ordered and will be delivered to customers upon arrival at their destination,” the company said in the press release.

Tesla will report its Q3 financial results after the closing bell on Wednesday, October 19, 2022.

Tesla Inc. (NASDAQ: TSLA) chart

Shares of Tesla were down by around 6% on Monday at $247.90 per share.

Stock performance

• 1 month: -1.84%
• 3 month: +71%
• Year-to-date: -24.70%
• 1 year: +65%

Tesla price targets

• JP Morgan: $153
• Piper Sandler: $340
• Deutsche Bank: $400
• Wolfe Research: $360
• Jefferies: $350
• Morgan Stanley: $383
• Wedbush: $360

Tesla is the 6^th largest company in the world and with a total market cap of $825.19 billion.

You can trade Tesla Inc. (NASDAQ: TSLA) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.

Sources: Tesla Inc., GO Markets MT5, Benzinga, CompaniesMarketCap