Tesla shares rise after third-quarter deliveries beat estimates
Tesla shares climb after Q3 deliveries beat estimates and lift investor sentiment. See how 486,532 vehicles and strong storage sales could shape Tesla’s outlook.
Tesla shares climbed 5% after the company reported thirdquarter vehicle deliveries that came in above analysts’ expectations. The electric vehicle maker said it delivered 486,532 vehicles in the quarter, down about 2% from a year earlier but higher than in the second quarter.
Tesla’s production reached 464,391 vehicles in the same period. Analysts had expected roughly 461,100 deliveries, while Tesla’s own consensus estimate was 461,974. The company said its Model 3 and Model Y accounted for 98% of deliveries.
The report comes as Tesla faces stronger competition from Chinese EV makers and pressure from declining sales in recent years. Tesla also said it deployed 13.7 GWh of energy storage products during the quarter and plans to report earnings on Oct. 21.