Tesla delivers record 343,830 cars; misses estimates

Tesla delivered 343,830 cars worldwide in the third quarter, eking out another record as a growing tide of consumers make the switch to electric vehicles (EVs) and the Austin, Texas-based company boosts production at four auto plants on three continents.

The results, posted Sunday, missed expectations. Analysts had expected that nearly 358,000 vehicles would be shipped, based on the average of estimates compiled by Bloomberg.

Quarterly deliveries are among the most closely watched indicators for Tesla since they underpin the carmaker’s financial results. Though legacy automakers and new entrants alike are bringing more EVs to market, Tesla has led the charge for battery-powered cars since the first Model S sedans were delivered to customers a decade ago.

Tesla had said that its delivery count is conservative and that final numbers could vary by 0.5 per cent or more. The company produced 365,923 vehicles for the quarter.

The carmaker doesn’t break out sales by geography, but the US and China are its largest markets and the overwhelming number of sales were of the Model 3 sedan and Y crossover.

Tesla makes the Model S, X 3 and Y models at its factory in Fremont, California. It makes the newer Model 3 and Y at the factory near Shanghai. Tesla recently began delivering Model Ys from its latest plants in Berlin and Austin.

The delivery figures come on the heels of Tesla’s “AI Day” late Friday night, which was largely a recruiting event. Chief executive office Elon Musk showed off a prototype humanoid robot walking and waving its hand, seeking to demonstrate Tesla’s advances in artificial intelligence.