Tesla reports record quarterly deliveries, but Model 3 sales underwhelm bulls

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Tesla reports record quarterly deliveries, but Model 3 sales underwhelm bulls
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Tesla Inc on Friday said it delivered 139,300 vehicles in the third quarter, a quarterly record for the electric carmaker, but shares fell 5.7% in pre-market trading.

on Friday said it delivered 139,300 vehicles in the third quarter, a quarterly record for the electric carmaker, but shares fell 5.7% in pre-market trading.The company slightly beat consensus estimates by Refinitiv for deliveries of 134,720 vehicles, but fell short of some of Wall Street’s most bullish forecasts, with analysts issuing a wide range of estimates.

The company last quarter said production at its California plant has ramped up to pre-pandemic levels after production at its core vehicle plant suspended from the end of March to early May due to the COVID-19 lockdown orders. Some 23,300 Tesla vehicles were registered in China in the months of August and July, with data from September still to come.

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