Tesla’s global sales bounced back in the third quarter, delivering 462,890 vehicles from July to September, a 6.4% increase compared to the same time last year. But, the EV makers’ stock dropped 3.5% after the report.
Strong sales in China and special financing deals helped boost deliveries.
However, Tesla’s total deliveries for the first nine months are still behind last year’s pace, creating pressure to sell around 515,000 vehicles in the fourth quarter to surpass 2023’s results.
Competition in the electric vehicle market, especially from Chinese companies like BYD, remains intense.