Tesla sales exceeded Q3 estimates

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Tesla deliveries in the third quarter of 2020 (Q3) exceeded Wall Street analysts’ estimates due to higher demand for the Model 3 sedan, and a recovery in global demand for the company’s models, Reuters and AP report.

The company announced on Friday that between July and September 2020 it sold 139,300 SUVs and sedans, an advance of 44% over the similar period in 2019, when it delivered 97,000 units.

According to Refinitiv data, analysts expected the American electric vehicle manufacturer to sell 134,720 units, according to Agerpres.

In the first nine months of this year, Tesla delivered 318,000 vehicles, while the company’s target is half a million deliveries in 2020.

Tesla could report its fifth consecutive profitable quarter when it announces third-quarter 2020 financial results this month.

Tesla’s evolution during the coronavirus pandemic (Covid-19) has been better than that of most automakers. In the second quarter of 2020, global sales rose by 2.5% to 90,650 vehicles compared to the first three months of this year, even though it had to close its only assembly plant in the US, in Fremont, California, for almost two months.

Between April and June 2020, Tesla reported a surprising net profit of $104 million.

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