Tesla’s quarterly deliveries top forecasts at 486,532 vehicles
Tesla delivered 486,532 vehicles in the third quarter, exceeding analyst expectations. Shares rose more than 5 per cent in early trading after the announcement. The company enters the final quarter with annual sales growth within reach after two declining years; the comparison with last year also reflects the expiry of a US electric vehicle tax credit. Financial results are due on 21 October.
Economics & Markets··Morning
Tesla exceeds the quarterly delivery forecast
Tesla announced third-quarter vehicle deliveries above analyst expectations on 2 October. The release covers worldwide deliveries during July through September.[1], [2]
The company delivered 486,532 vehicles, compared with the 456,896 expected by analysts surveyed by Visible Alpha, a financial data provider. Its shares rose more than 5 per cent in early trading after the announcement. Before that rise, the shares had lost roughly a fifth of their value since the start of the year.[1]
Last year’s US tax-credit expiry shapes the comparison
Last year’s third quarter included purchases brought forward by US customers seeking a 7,500 dollar federal electric vehicle tax credit before it expired at the end of September. In July, Chief Financial Officer Vaibhav Taneja said Tesla had ended the second quarter with its largest order backlog since 2023. Analysts’ annual delivery estimate now stands at 1.82 million vehicles, up from 1.65 million in June.[1]
Financial results follow on 21 October
Tesla’s registrations in the European Union rose by about two-thirds over January through August from the corresponding period last year, according to European carmakers’ association ACEA. September sales also strengthened in France and Denmark. Car sales remain Tesla’s largest revenue source, alongside investor expectations for robotaxis and humanoid robots. The company will release its quarterly financial results on 21 October.[1]
Related columns
For more information on this topic, you can read the related columns.
