Tesla's Quarterly Deliveries Rise, But Fall Short of Expectations
The automaker's vehicle sales increased for the first time this year, yet failed to meet investor expectations, leading to a drop in stock value.
- Tesla delivered 462,890 vehicles in the third quarter, marking a 6.4% increase from the previous year.
- Despite the rise in sales, the figures fell short of the expected 463,900 units, disappointing investors.
- Tesla shares fell nearly 5% as investors anticipated higher gains from increased Chinese subsidies for electric vehicles.
- Aggressive pricing strategies, including low-interest financing and discounted leases, contributed to the sales increase.
- Tesla's energy business saw a decline, with a drop in energy storage deployments from the previous quarter.
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