Tesla's stock price on major financial news websites

Tesla Q3 Deliveries Increase 6.4% to 462,890 Vehicles; Stock Falls 4%

Oct 2, 2024, 01:07 PM

Tesla reported third-quarter deliveries of 462,890 vehicles, narrowly missing Wall Street analyst estimates of 463,897. The company produced approximately 470,000 vehicles during the same period. Tesla's deliveries increased by 6.4% year-on-year and 4% quarter-on-quarter. The growth was driven by incentives and lucrative financing plans in China, the world's largest auto market. Model 3/Y deliveries reached 439,975 units, while deliveries of other models, including the Cybertruck, totaled 22,915 units. Additionally, Tesla deployed 6.9 GWh of energy storage in Q3, up 73% year-on-year but down 27% from Q2. Despite the increase in deliveries, Tesla's stock fell by 4% in pre-market trading following the announcement.