Tesla shrugs off chip crisis as electric vehicle deliveries hit another record

US electric car producer Tesla has reported delivery of a record number of electric cars in the third quarter, beating Wall Street projections, despite the global chip shortage faced by automakers. 

Tesla delivered 241,300 vehicles globally, while analysts had expected the producer to deliver 229,242 vehicles, according to Refinitiv data.

The automaker’s overall deliveries soared by 20% between July and October compared to the previous record high posted in the second quarter. The growth marks the sixth quarter-on-quarter gain in a row. Third-quarter deliveries surged 73% against the same period last year.

Nearly 96% of Tesla deliveries were its newer Model 3 sedan and Model Y crossover, the report reads. The company also revealed that 9,275 of the vehicles it delivered were Model X and S.

The company also raised production numbers to 237,823 units, marking another record. Rising Chinese exports to Europe, along with the introduction of a cheaper Model Y, reportedly helped to boost Tesla’s production.

Tesla Chief Executive Elon Musk tweeted congratulations to the company’s staff for hitting the delivery and production numbers.

“And thanks very much to our suppliers & logistics partners for coming through despite great difficulties!” he said in a separate message.

Last month, Musk said the company had suffered a serious parts shortage earlier in the third quarter. Musk had reportedly urged employees to make a quarter-end delivery push.

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