Tesla announced that its third-quarter vehicle deliveries were lower than anticipated. Despite implementing incentives and low-cost financing options, the demand for its existing models did not meet expectations in a highly competitive market.
During the three months ending September 30, Tesla delivered 462,890 vehicles, marking a 6.4% increase from the previous quarter. However, Wall Street analysts, surveyed by LSEG, had expected the company to deliver 469,828 vehicles.
As a result of missing the quarterly delivery estimates, Tesla's (TSLA, Financial) pre-market stock dropped by approximately 2.5%.
