Please ensure Javascript is enabled for purposes of website accessibility

Storyland Will Sparkle for All Visitors With $1 Million City of Fresno Grant

16 hours ago

Ozzy Osbourne, Black Sabbath’s Bat-Biting Frontman, Dies at 76, BBC Reports

21 hours ago

What’s Fresno County Worth? Property Tax Roll Grows by Billions of Dollars

23 hours ago

Fresno County Authorities Seek Help Locating Missing Woman and Infant

23 hours ago

Maddy Institute Fundraiser to Highlight Central Valley’s Impact at State Capitol

23 hours ago

No Aid Supplies Left and Staff Are Starving in Gaza, Says Norwegian Refugee Council

1 day ago

US Justice Dept. Asks Epstein Associate Maxwell to Speak to Prosecutors

1 day ago

Trump’s Golden Dome Looks for Alternatives to Musk’s SpaceX

1 day ago

Fresno Unified’s Free Immunization Clinics for Students Start in August

1 day ago
Tesla Sales Surge as Global Demand Picks Up Speed
gvw_ap_news
By Associated Press
Published 5 years ago on
October 3, 2020

Share

Tesla’s third-quarter sales jumped 44% as global demand for its electric vehicles outpaced that of most other automakers.

The company reported Friday that it had delivered 139,000 SUVs and sedans from July through September, compared with 97,000 deliveries during the same period a year ago.

The sales topped even some of the most optimistic projections coming from Wall Street. Analysts polled by data provider FactSet expected the company to sell closer to 137,000.

Telsa has been rewriting the script throughout the year amidst a pandemic that has closed factories and scrambled supply lines.

“This puts Musk & Co. in prime position to hit the area code of 500k units for the year which six months ago was not even on the map for the bulls,'” Daniel Ives of Wedbush wrote Friday.

China was likely a major source of strength in the quarter, Ives said.

Tesla could post its fifth consecutive quarter of profits later this month.

Tesla Posted a Surprising $104 Million Net Profit From April Through June

Tesla has weathered the coronavirus pandemic better than most car companies. Second-quarter global sales rose 2.5% over the first quarter despite virus precautions forcing the shutdown of its only U.S. assembly plant. Still, sales fell 4.8% from the second quarter of 2019

Tesla posted a surprising $104 million net profit from April through June, boosted by the sale of electric vehicle credits to other automakers.

In the second quarter, Tesla delivered 90,650 vehicles as it rolled out the new Model Y SUV in the U.S. and China.

Coronavirus restrictions adopted in the San Francisco Bay Area forced Tesla to close its only U.S. assembly plant in Fremont, California, for almost two months this spring, opening again on May 11.

The big sales number did not provide a bump for the company’s shares, which fell 5% at the opening bell. Telsa may be caught up in a broader sell-off in U.S. markets on news that President Donald Trump had tested positive for the coronavirus.

However, shares of Tesla Inc. are up well over 400% this year, hitting an all-time high last month, and most Wall Street analysts expect that trend to continue.

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

WHO Sees ‘Deadly’ Surge in Malnutrition in Gaza. 21 Children Under Five Killed in 2025

DON'T MISS

State Department Investigating Harvard’s Participation in Exchange Visitor Program

DON'T MISS

Israeli Strike Kills Hungry Gaza Family in Their Sleep

DON'T MISS

US Existing Home Sales Fall More Than Expected in June

DON'T MISS

Trump Strikes Tariff Deal With Japan, Auto Stocks Surge

DON'T MISS

Trump Admin Releases After-School Grant Money, but There’s a Catch

DON'T MISS

A Pro-Trump Community Reckons With Losing a Beloved Immigrant Neighbor

DON'T MISS

Trump Announces Trade Deal With Japan, Including 15% Tariff

DON'T MISS

Why American Jews No Longer Understand One Another

DON'T MISS

Visalia DUI Operation Nets 17 Arrests Over Weekend

UP NEXT

US Existing Home Sales Fall More Than Expected in June

UP NEXT

Trump Strikes Tariff Deal With Japan, Auto Stocks Surge

UP NEXT

Trump Admin Releases After-School Grant Money, but There’s a Catch

UP NEXT

Trump Announces Trade Deal With Japan, Including 15% Tariff

UP NEXT

Why American Jews No Longer Understand One Another

UP NEXT

US Appeals Court Will Not Lift Limits on Associated Press Access to White House

UP NEXT

Epstein Files Fight Leads US House Republicans to Start Summer Break a Day Early

UP NEXT

Obama Reiterates Conclusion of Attempted Russian Interference in 2016 Election

UP NEXT

NPR’s Top Editor Edith Chapin to Step Down

UP NEXT

Less Than 400 EV Charging Ports Built Under $7.5 Billion US Infrastructure Program

US Existing Home Sales Fall More Than Expected in June

27 minutes ago

Trump Strikes Tariff Deal With Japan, Auto Stocks Surge

29 minutes ago

Trump Admin Releases After-School Grant Money, but There’s a Catch

1 hour ago

A Pro-Trump Community Reckons With Losing a Beloved Immigrant Neighbor

1 hour ago

Trump Announces Trade Deal With Japan, Including 15% Tariff

15 hours ago

Why American Jews No Longer Understand One Another

16 hours ago

Visalia DUI Operation Nets 17 Arrests Over Weekend

16 hours ago

Storyland Will Sparkle for All Visitors With $1 Million City of Fresno Grant

16 hours ago

Former Madera Charter School Executive Charged With Embezzling Federal Funds

17 hours ago

Fresno Unified Doesn’t Respond to Public Records Requests. Is District Hiding Something?

17 hours ago

WHO Sees ‘Deadly’ Surge in Malnutrition in Gaza. 21 Children Under Five Killed in 2025

The World Health Organization said on Wednesday it was seeing a deadly surge in malnutrition in Gaza that has led to the deaths of 21 childr...

10 minutes ago

A doctor checks Jana Ayad, a malnourished Palestinian girl, as she receives treatment at the International Medical Corps field hospital, amid the Israel-Hamas conflict, in Deir Al-Balah in the southern Gaza Strip, June 22, 2024. (Reuters File)
10 minutes ago

WHO Sees ‘Deadly’ Surge in Malnutrition in Gaza. 21 Children Under Five Killed in 2025

Students gather on the campus of Harvard University in Cambridge, Massachusetts, U.S., May 23, 2025. (Reuters File)
15 minutes ago

State Department Investigating Harvard’s Participation in Exchange Visitor Program

Debris lies at the site of an overnight Israeli air strike on a house, in Gaza City, July 23, 2025. (Reuters/Mahmoud Issa)
23 minutes ago

Israeli Strike Kills Hungry Gaza Family in Their Sleep

A "For Sale" sign stands at a house in Miami, Florida, U.S. April 16, 2025. (Reuters File)
27 minutes ago

US Existing Home Sales Fall More Than Expected in June

People react as they read a special edition of Yomiuri Shimbun newspaper reporting the tariff deal agreement between U.S and Japan, in Tokyo, Japan, July 23, 2025. (Reuters/Kim Kyung-Hoon)
29 minutes ago

Trump Strikes Tariff Deal With Japan, Auto Stocks Surge

Students at Cesar Chavez Elementary School in San Diego
1 hour ago

Trump Admin Releases After-School Grant Money, but There’s a Catch

A photograph of Moises Sotelo, who was deported after living in the U.S. for 31 years and owned a vineyard management company
1 hour ago

A Pro-Trump Community Reckons With Losing a Beloved Immigrant Neighbor

Containers are pictured at an industrial port in Tokyo, Japan, July 2, 2025. (Reuters File)
15 hours ago

Trump Announces Trade Deal With Japan, Including 15% Tariff

Help continue the work that gets you the news that matters most.

Search

Send this to a friend