Tesla reports fall in Q3 deliveries, misses estimates

TESLA missed market estimates for third-quarter deliveries on Monday (Oct 2) as the carmaker was forced to curb production due to planned factory shutdowns, sending its shares down 3.7 per cent in trading before the bell.

The electric-vehicle maker handed over 435,059 vehicles in the three months to Sep 30, down nearly 7 per cent from the preceding quarter.

The world’s most valuable carmaker produced 430,488 vehicles in the third quarter, compared with 479,700 in the second quarter and 365,923 a year earlier.

Wall Street on average had expected Tesla to deliver 454,100 vehicles, according to 19 analysts polled by investment research company Visible Alpha.

A London Stock Exchange Group-compiled figure of eight analysts put the estimate at 459,949 vehicles, with the lowest estimate at 442,000 and the highest at 511,405. REUTERS