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Tesla misses estimates for quarterly deliveries; shares fall

Economic Times · 1y

Tesla reported Q3 deliveries of 435,059 vehicles, missing market estimates and causing its shares to drop by 3.7%. The automaker cited planned factory shutdowns as a reason for the decline. Despite the miss, Tesla maintained its target to deliver 1.8 million vehicles this year. Some analysts believe factory upgrades could lead to a rebound in Q4 deliveries. Tesla also cut prices for certain models in the quarter. The company will report its Q3 financial results on October 18.