Tesla: deliveries up, but considered disappointing

(CercleFinance.com) - Tesla announced on Wednesday morning that it had delivered 462,890 vehicles in Q3, up over 6% y-o-y, although deemed disappointing by investors.


This figure is in line with the consensus, which was officially targeting around 462,000 units, but falls short of whisper numbers, which were expecting between 465,000 and 470,000 units.

This figure marks an encouraging step in the right direction, but it's clear that Wall Street was expecting between 3,000 and 5,000 more deliveries, Dan Ives, analyst at Wedbush Securities, said.

Overall, this is a clear improvement on H1 performance, and achieving annual sales of around 1.8 million this year is still a key factor, he added.

Some professionals prefer to focus on the return to growth signed by the American electric car manufacturer, which had seen its sales fall by 5% in the second quarter, following an 8.5% drop in the first three months of the year.

The Texas-based manufacturer declared that it had manufactured 469,796 vehicles in the same period, compared with 430.488 over the same period in 2023, a figure that testifies to the expansion of its production capacity.

Following these figures, Tesla's share price dropped by more than 5% on Wednesday morning on the New York Stock Exchange, compared with a decline of just 0.2% for the S&P 500 index.

The Austin-based group plans to publish its Q3 results after trading in Wall Street on Wednesday 23 October.


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