Tesla stock jumps 5% on better-than-expected vehicle deliveries report

2 days ago 14

Tesla shares climbed 5% on Friday after the electric vehicle maker reported deliveries for the third quarter that topped analysts' estimates. Here are the key numbers: Total Q3 vehicle deliveries: 486,532Total Q3 vehicle production: 464,391Deliveries fell about 2% from 497,099 a year earlier, but climbed from the second quarter, when Tesla recorded 480,126 deliveries. Analysts were expecting around 461,100 deliveries, according to StreetAccount's consensus. Tesla's company-compiled consensus, published Tuesday, was for 461,974 deliveries.Tesla doesn't break out exact delivery numbers by individual model or region, but the company said its entry-level Model 3 sedan and most popular Model Y SUVs accounted for a vast majority, or 98%, of its deliveries.Deliveries are the closest approximation of sales reported by Tesla but are not precisely defined in its shareholder communications.Elon Musk's automaker is under pressure due to surging competition from Chinese EV makers, such BYD and Xiaomi, which sell more affordable and innovative EVs. Tesla is trying to recover from consecutive annual declines in vehicle sales that were partly caused by a consumer backlash against Musk, the world's...

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