Tesla Q3 Deliveries Miss Estimates, But Stock Gains More Than 30%, Erasing YTD Losses

Benzinga

Tesla's third-quarter vehicle deliveries fell slightly short of analyst expectations, while production increased compared to the previous quarter. The company produced more vehicles than it delivered during this period. Tesla is facing growing competition from companies like BYD, Geely, Li Auto, and Nio in China, and from Rivian and legacy automakers such as Ford and General Motors in the U.S. GM reported a 60% year-over-year increase in EV sales for the third quarter. Tesla’s stock gained over 30% in the third quarter, erasing its year-to-date loss. Shares fell 3.5% in premarket trading.

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00:00It's Benzinga and here's what's on the block.

00:03Tesla's third quarter vehicle deliveries fell slightly short of analysts' expectations

00:07while production increased compared to the previous quarter.

00:10The company produced more vehicles than it delivered during this period.

00:14Tesla is facing growing competition from companies like BYD, Geely, and Li Auto in China and

00:19from Rivian and legacy automakers such as Ford and General Motors in the U.S.

00:24GM reported a 60% year-over-year increase in EV sales for the third quarter.

00:29Tesla's stock gained more than 30% in the third quarter, erasing its year-to-date loss.

00:34Shares fell 3.5% in pre-market trading.

00:36For all things money, visit Benzinga.com.

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