Tesla set to close out third quarter with high delivery volume

Yahoo Finance Live anchors discuss Tesla’s push to close out its third quarter with a high delivery volume.

Video Transcript

[AUDIO LOGO]

BRAD SMITH: Shares of Tesla, ticker symbol TSLA, they are moving higher today by about 3.8% this morning, following a report that the company is preparing for a high-volume of deliveries that could close out a record quarter for the EV maker. In a memo, Tesla encouraged employees to provide, quote, "additional support," unquote, to the end of quarter drive over the next few days. This is not the first time that we've heard--

BRIAN SOZZI: Heard it.

BRAD SMITH: --some type of internal memo saying, hey, we really need to go pedal to the metal on our deliveries and on our production to ensure that we can close out a strong quarter.

Elon Musk has talked about production hell in the past. All the way to some of the most aggressive forms of making sure that everybody is all hands on deck in trying to hit some of the very-- the large numbers that they've set forward. And they've continued to look at some of these records as not just, OK, let's set the record, and then kind of set the ball down.

It's, how can we build on top of this? And they know that they need to do so because, as you have more Ford and GM production capacity that comes on line, Tesla maintaining the market share that they've been able to take on to this point in time, is going to be amazingly critical because of the production capacity that GM, Ford, and all of the other behemoth automakers have exemplified for decades now.

And so that's gonna be extremely critical. That's why they're trying to just continue to build on some of the production and deliveries that they've been able to bring forward.

BRIAN SOZZI: Real quick from here, before we get to our last mover here. Fun fact, Tesla shares up about 17% in the past three months. The S&P 500 down 5%. So we're talking about bear markets all morning long. Interesting move here.