If that number holds, it will represent an increase of about 62% over last year and about 32% sequentially. Earnings are expected to be about $1.03 per share, up from approximately $0.76 in the second quarter.
The electric vehicle maker said it delivered 343,830 vehicles for the quarter that ended in September. That marks a growth of about 42% year-over-year and a sequential increase of around 35%.
Tesla had slower production during the second quarter due to COVID-19 restrictions on its Shanghai factory, an issue which has since eased. The company also saw production ramp-up at new facilities in Texas and Berlin and increasing productivity at the company’s first plant in Fremont.
The EV maker also raised prices on its most popular offering, the Model Y, by about $3,000. The Model X and S, the brand’s higher-priced premium models, saw even more significant price increases.
Even with delivery numbers below estimates for the third quarter, analysts expect more substantial price realizations and margins for the quarter. Average prices for Tesla vehicles increased about 14% year-over-year through the second quarter of this year, and an even bigger jump is expected for Q3.
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