Tesla delivered a record number of cars worldwide in the third quarter, smashing analysts’ estimates and maintaining its dominance in electric-vehicle sales.
The Palo Alto, California-based carmaker delivered 139,300 cars, eclipsing its prior all-time high of 112,000 in the fourth quarter of 2019 and above the 129,950 projected by analysts surveyed by Bloomberg.
Shares of Tesla, which have rallied more than 435 per cent this year, pared losses in early trading after announcing the sales data. The stock was down 3.9 per cent in premarket trading Friday to $430.28 as of 8:33am in New York, part of a broad selloff of stocks after President Donald Trump disclosed a positive test for Covid-19.
“Overall, these are stellar numbers,” Dan Ives, an analyst at Wedbush, said in a phone interview early Friday. “The read through here is that China was a source of strength.”
Chief executive Elon Musk signalled to employees and investors that a record quarter was within reach in an internal email in late September.
The quarterly number is a barometer of worldwide EV (Electric Vehicle) demand as Tesla seeks to maintain its lead over startups and established automakers alike that plan to launch dozens of competing battery-powered vehicles in the next several years. Tesla’s global market share in EVs last year was an industry-leading 16 per cent, according to a recent report by McKinsey & Co.
Tesla didn’t say whether it still expects to deliver at least 500,000 vehicles this year, which would be a 36 per cent gain over 2019. The company has handed over 318,350 cars to customers as of September 30. It will need a blowout fourth quarter of around 181,650 global deliveries to reach its target.
At the company’s ‘Battery Day’ event last month showcasing its technology, Mr Musk reaffirmed that 500,000 goal for 2020 by saying he expected “somewhere between 30 to 40 per cent growth” compared with last year.
Tesla’s mass-market Model 3 made up the bulk of deliveries in the third quarter, but the results included the Model Y crossover, which first started reaching US customers in mid-March. Mr Musk has predicted it will be a big seller, potentially topping the combined volume of all other vehicles in Tesla’s lineup.
Tesla assembles the Model S, X, 3 and Y at its US auto plant in Fremont, California. It also manufactures the Model 3 at a factory in Shanghai. The company is building new plants at a site near Austin, Texas, and outside Berlin.
What it means to be a conservationist
Who is Enric Sala?
Enric Sala is an expert on marine conservation and is currently the National Geographic Society's Explorer-in-Residence. His love of the sea started with his childhood in Spain, inspired by the example of the legendary diver Jacques Cousteau. He has been a university professor of Oceanography in the US, as well as working at the Spanish National Council for Scientific Research and is a member of the World Economic Forum’s Global Future Council on Biodiversity and the Bio-Economy. He has dedicated his life to protecting life in the oceans. Enric describes himself as a flexitarian who only eats meat occasionally.
What is biodiversity?
According to the United Nations Environment Programme, all life on earth – including in its forests and oceans – forms a “rich tapestry of interconnecting and interdependent forces”. Biodiversity on earth today is the product of four billion years of evolution and consists of many millions of distinct biological species. The term ‘biodiversity’ is relatively new, popularised since the 1980s and coinciding with an understanding of the growing threats to the natural world including habitat loss, pollution and climate change. The loss of biodiversity itself is dangerous because it contributes to clean, consistent water flows, food security, protection from floods and storms and a stable climate. The natural world can be an ally in combating global climate change but to do so it must be protected. Nations are working to achieve this, including setting targets to be reached by 2020 for the protection of the natural state of 17 per cent of the land and 10 per cent of the oceans. However, these are well short of what is needed, according to experts, with half the land needed to be in a natural state to help avert disaster.
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Brief scores:
Toss: Nepal, chose to field
UAE 153-6: Shaiman (59), Usman (30); Regmi 2-23
Nepal 132-7: Jora 53 not out; Zahoor 2-17
Result: UAE won by 21 runs
Series: UAE lead 1-0
UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
Januzaj's club record
Manchester United 50 appearances, 5 goals
Borussia Dortmund (loan) 6 appearances, 0 goals
Sunderland (loan) 25 appearances, 0 goals
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
The biog
Favourite food: Tabbouleh, greek salad and sushi
Favourite TV show: That 70s Show
Favourite animal: Ferrets, they are smart, sensitive, playful and loving
Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can
Name of first pet: Eddy, a Persian cat that showed up at our home
Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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PREMIER LEAGUE RESULTS
Bournemouth 1 Manchester City 2
Watford 0 Brighton and Hove Albion 0
Newcastle United 3 West Ham United 0
Huddersfield Town 0 Southampton 0
Crystal Palace 0 Swansea City 2
Manchester United 2 Leicester City 0
West Bromwich Albion 1 Stoke City 1
Chelsea 2 Everton 0
Tottenham Hotspur 1 Burnley 1
Liverpool 4 Arsenal 0
Profile of Foodics
Founders: Ahmad AlZaini and Mosab AlOthmani
Based: Riyadh
Sector: Software
Employees: 150
Amount raised: $8m through seed and Series A - Series B raise ongoing
Funders: Raed Advanced Investment Co, Al-Riyadh Al Walid Investment Co, 500 Falcons, SWM Investment, AlShoaibah SPV, Faith Capital, Technology Investments Co, Savour Holding, Future Resources, Derayah Custody Co.
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CREW
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ERajesh%20A%20Krishnan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ETabu%2C%20Kareena%20Kapoor%20Khan%2C%20Kriti%20Sanon%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5%2F5%3C%2Fp%3E%0A
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Results:
6.30pm: Handicap | US$135,000 (Dirt) | 1,400 metres
Winner: Rodaini, Connor Beasley (jockey), Ahmad bin Harmash (trainer)
7.05pm: Handicap | $135,000 (Turf) | 1,200m
Winner: Ekhtiyaar, Jim Crowley, Doug Watson
7.40pm: Dubai Millennium Stakes | Group 3 | $200,000 (T) | 2,000m
Winner: Spotify, James Doyle, Charlie Appleby
8.15pm: UAE Oakes | Group 3 | $250,000 (D) | 1,900m
Winner: Divine Image, William Buick, Charlie Appleby
8.50pm: Zabeel Mile | Group 2 | $250,000 (T) | 1,600m
Winner: Mythical Image, William Buick, Charlie Appleby
9.20pm: Handicap | $135,000 (T) | 1,600m
Winner: Major Partnership, Kevin Stott, Saeed bin Suroor
Closing the loophole on sugary drinks
As The National reported last year, non-fizzy sugared drinks were not covered when the original tax was introduced in 2017. Sports drinks sold in supermarkets were found to contain, on average, 20 grams of sugar per 500ml bottle.
The non-fizzy drink AriZona Iced Tea contains 65 grams of sugar – about 16 teaspoons – per 680ml can. The average can costs about Dh6, which would rise to Dh9.
Drinks such as Starbucks Bottled Mocha Frappuccino contain 31g of sugar in 270ml, while Nescafe Mocha in a can contains 15.6g of sugar in a 240ml can.
Flavoured water, long-life fruit juice concentrates, pre-packaged sweetened coffee drinks fall under the ‘sweetened drink’ category
Not taxed:
Freshly squeezed fruit juices, ground coffee beans, tea leaves and pre-prepared flavoured milkshakes do not come under the ‘sweetened drink’ band.
