It’s been a rough year for automakers. Sales declined throughout the summer in the wake of coronavirus-related restrictions and tough economic conditions for consumers across the country. October’s latest quarterly sales report still showed declining figures from the same point in 2019. Signs are encouraging, though, as most manufacturers are posting smaller losses or, in some cases, even slight gains.
One highlight among all the numbers is Tesla. The electric automaker actually set a quarterly record, delivering 139,300 vehicles to customers over the past three months. That figure is up a substantial 43 percent, So far this year, the company delivered some 318,000 vehicles.
A few key developments since this time last year were the launch of Tesla’s new Shanghai factory, which has since supported its push for higher sales numbers, as well as the arrival of the Model Y crossover. Last quarter, the company announced it had returned to pre-coronavirus levels. The Fremont plant suspended production in late March, but ramped back up from May onward.
Catching up to demand
In the wake of production issues due to COVID-19, Tesla also produced substantially more vehicles in Q3 2020. According to their release, the company built 145,036 vehicles, of which 128,044 of those were Model 3s or Model Ys.
Of course, while sales have picked up dramatically in the United States, the EV automaker is also focused on overseas markets. The goal with its Shanghai factory is to produce at least 250,000 vehicles annually, including both its smaller models. Demand in China has increased substantially, especially as Tesla lowered prices on the car in that market, where it’s still relatively expensive to what American consumers pay.
Tesla is also building a battery manufacturing facility near Berlin and a new plant near Austin, Texas, so we expect the momentum to continue to build as we close in on the end of December.
