The third quarter of 2020 has turned out to be an amazing achievement for Tesla, which delivered a record number of electric cars, and by the way, noted record revenues and net income.

Here we will focus on delivery numbers, which usually are in line with the preliminary numbers.

The company has delivered 139,593 electric cars (all-time high), which is 44% more than a year ago! The total result in 2020 is 318,980 (up 25% year-over-year).

Thanks to those outstanding volumes, Tesla managed to increase revenues to $8.771 billion (up 39% year-over-year), $397 million coming from regulatory credits, and achieve $331 million of net income (GAAP). It seems that at this level of sales, Tesla is starting to get really profitable (the best is ahead for Tesla we believe). It was also the fifth profitable quarter in a row.

Tesla Model S/X/3/Y Deliveries (quarterly) – through Q3 2020

  • Total: 139,593 (up 44% year-over-year)

The 12-month rolling deliveries reached a new high of over 431,000 and heads towards one half-million.


Deliveries by model

  • Model 3/Y: 124,318 (up 56%)
  • Model S/X: 15,275 (down 13%)

Sales of 3/Y grew significantly, although S/X still slides down. Tesla wrote:

"At the same time, vehicle average selling price (ASP) declined slightly compared to the same period last year as our product mix continues to shift from Model S and Model X to the more affordable Model 3 and Model Y. "



Target for the full year 2020 is to produce 500,000 cars and deliver 500,000, but it will be very challenging.

"We have the capacity installed to produce and deliver 500,000 vehicles this year. While achieving this goal has become more difficult, delivering half a million vehicles in 2020 remains our target. Achieving this target depends primarily on quarter over quarter increases in Model Y and Shanghai production, as well as further improvements in logistics and delivery efficiency at higher volume levels."

Here is what Tesla needs to do in Q4 to reach 500,000:

  • production target: 170,020
  • deliveries target: 181,020

Can Tesla produce and sell so many EVs in Q4?

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