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Tesla beats Q3 delivery forecasts
Tesla announced its vehicle deliveries and production for the third quarter, with a total of 486,532 vehicles delivered, surpassing analyst expectations of approximately 461,100 cars. Although deliveries declined by 2% compared to last year, they increased from the second quarter, which saw 480,126 deliveries. The majority of deliveries were for the Model 3 and Model Y, the most popular models. Tesla faces pressure from Chinese competitors and is looking to recover its sales amid a general decline in its stock, which has fallen by 21% over the year. The company also launched energy storage products with a capacity of up to 13.7 gigawatt-hours and continues efforts to boost global demand for electric vehicles amid rising global demand and the increasing prominence of sustainable transportation. Tesla will disclose its third-quarter results on October 21.
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