Shares of the EV market leader closed Friday little changed at $775.22. The stock is up less than 10 percent so far this year and trails the broader S&P 500, which it joined last year.
Tesla’s numbers compare favorably with the rest of the industry, which saw U.S. vehicle sales slump in the latest three-month period due to limits on production from supply chain shortages. General Motors, which idled key truck plants in September, took the biggest blow, with sales in its home market dropping by a third in the latest quarter.
Tesla doesn’t break out sales by geography, but the U.S. and China are its largest markets. Tesla currently makes the Model S, X, 3 and Y at its factory in Fremont, Calif., and the Model 3 and Y at its plant in Shanghai. More than 96 percent of sales this quarter were of the Model 3 and Y.
New plants are close to completion in Austin, Texas, and Berlin. For the first time, Tesla’s dateline for the production and delivery release said “Austin,” and Tesla will hold its annual shareholder meeting from the Austin factory on Thursday. Martin Viecha, Tesla’s head of investor relations, did not respond when asked if Tesla has moved its corporate headquarters to Austin.
In September, Musk sent an email to employees urging everyone to “go super hardcore” to “ensure a decent Q3 delivery number.”
