Tesla Delivered 343,830 EV Units in Q3, Misses Estimates

tesla-delivered-343,830-ev-units-in-q3,-misses-estimates

Stock Markets 6 hours ago (Oct 02, 2022 01:41PM ET)

Tesla Delivered 343,830 EV Units in Q3, Misses Estimates © Reuters. Tesla (TSLA) Delivered 343,830 EV Units in Q3, Misses Estimates

By Senad Karaahmetovic

Tesla (NASDAQ:) delivered 343,830 electric vehicles (EVs) in Q3, the company announced Sunday. During the year-ago quarter, Tesla delivered 254,695 vehicles, or growth of 35%.

Q3 deliveries were lower than expected as analysts were looking for 359,162 vehicle deliveries, according to Refinitiv. The Bloomberg consensus stood at 357,938 while estimates compiled by Street Account showed that analysts were expecting Tesla to report deliveries of 364,660 cars.

“Historically, our delivery volumes have skewed towards the end of each quarter due to regional batch building of cars,” Tesla said in a statement.

“As our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost during these peak logistics weeks.”

Tesla also said that it delivered 18,672 Model S and Model X premium vehicles during the quarter. It produced 365,923 vehicles, a 54% jump year-over-year.

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