Tesla Q3 deliveries top estimates, shares rise 1.9%

Investing.com -- Tesla (NASDAQ) delivered 486,532 vehicles in the third quarter, well above the company-compiled analyst consensus of 461,974, as the electric vehicle maker posted a stronger-than-expected quarter despite ongoing demand concerns. Shares rose 1.9% in premarket trading.

Tesla produced 464,391 vehicles during the quarter, meaning deliveries exceeded production by more than 22,000 vehicles. Model 3 and Model Y deliveries totaled 478,237, while other models accounted for 8,295 deliveries. Energy storage deployments totaled 13.7 GWh.

The delivery figure was also above the 480,126 vehicles Tesla delivered in the second quarter, although it remained below the 497,099 vehicles delivered in the year-ago quarter.

While vehicle deliveries remain important to Tesla's automotive business, investor attention is increasingly focused on the company's longer-term ambitions in robotaxis, artificial intelligence and humanoid robotics, with the company's valuation increasingly tied to its ability to expand those businesses beyond its traditional EV operations.

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