Tesla Shares Jump 5% After Q3 Deliveries Beat 461,100-Unit Forecast
Updated
Updated · CNBC · Oct 2
Tesla Shares Jump 5% After Q3 Deliveries Beat 461,100-Unit Forecast
3 articles · Updated · CNBC · Oct 2
Summary
Tesla rose 5% in midday trading after reporting 486,532 third-quarter vehicle deliveries, topping the 461,100 units analysts expected, according to FactSet.
That beat came even as deliveries slipped 2% from a year earlier, suggesting investors focused more on Tesla outperforming Street forecasts than on the annual decline.
Production totaled 464,391 vehicles in the quarter, while Model 3 and Model Y made up 98% of deliveries.
The delivery report lands as Tesla faces intensifying EV competition from BYD and Xiaomi, along with consumer backlash tied to CEO Elon Musk.