Tesla Beats Q3 Delivery Estimates With 486,532 Vehicles as Shares Rise 2%
Updated
Updated · CNBC · Oct 2
Tesla Beats Q3 Delivery Estimates With 486,532 Vehicles as Shares Rise 2%
3 articles · Updated · CNBC · Oct 2
Summary
486,532 deliveries in the third quarter topped analyst expectations of about 461,100, sending Tesla shares up roughly 2% after the report.
464,391 vehicles were produced in the quarter, while deliveries slipped about 2% from 497,099 a year earlier but improved from 480,126 in Q2.
98% of deliveries came from the Model 3 and Model Y, underscoring Tesla's continued reliance on its mass-market lineup.
13.7 GWh of energy storage deployments also edged up from 13.5 GWh in Q2 and 12.5 GWh a year earlier, adding support beyond vehicle sales.
Tesla is still trying to recover from annual sales declines amid cheaper Chinese EV competition and the loss of a U.S. federal EV tax credit; it reports earnings on Oct. 21.