The two lower-tier models boast a profit margin of close to 30%, and accounted for more than 96% of third quarter deliveries.
While resulting revenues still fell short of consensus estimates, overall profits topped Wall Street projections thanks to improved margins with Model 3/Y sales leading the way. Tesla made record-setting deliveries of 241,300 vehicles worldwide for the third quarter despite global supply chain constraints that have upended the broader automotive industry. Tesla – Implications of Recent Developments Better-Than-Expected Third Quarter Results But which makes a better investment would depend on the individual investors’ risk appetite. Based on these considerations, both EV stock picks are expected to generate meaningful upsides within the foreseeable future. by market value, exhibits characteristics of an “outperforming” stock pick with superior growth and superior returns as it continues to grow into the sky-high valuation expectation prescribed by the market. Meanwhile, Tesla, which recently surpassed Facebook ( FB ) as the fifth largest publicly traded company in the U.S. Comparatively, Lucid makes a “fast growth” stock pick with superior growth and meaningful returns as it continues to expand its vehicle line-up and ramp up production volumes to scale. The stock is currently trading at a premium to other early-stage EV pure-plays, while still at a significant discount to the industry’s undisputed leader. Lucid is one o f the most promising EV start-ups and it's looking to emulate Tesla’s success in recent years. And from a macroeconomic perspective, both stocks have continued to benefit from improved government policy support put in place to encourage broader EV adoption, especially as the COP26 climate summit in Scotland continues to unfold over the next two weeks. Meanwhile, Lucid has continued to ride on the boost in investors’ confidence after commencing customer deliveries over the past weekend. From a company-specific standpoint, Tesla has benefited from better-than-expected third-quarter production and delivery volumes paired with an unprecedented early-stage purchase arrangement with Hertz ( OTCPK:HTZZ ). Tesla (Nasdaq: NASDAQ: TSLA) and Lucid (Nasdaq: NASDAQ: LCID) have been two of the hottest electric vehicle (“EV”) stocks on the market in recent weeks for all the right reasons. Jetcityimage/iStock Editorial via Getty Images
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