Tesla’s Deliveries Fell 2% but Still Beat Expectations
Tesla delivered 486,532 vehicles in the third quarter, down 2% year on year but exceeding analyst forecasts of 461,000. American electric sales plummeted by 47% in August following the expiration of federal credits, while European registrations surged 43.3% between January and August, surpassing the broader battery-electric market growth.
Forecasts and Share Performance
Forecasts were close to 461,100, and Tesla's own consensus estimate stood at 461,974, as reported by CNBC. Despite the dip in deliveries, Tesla's shares rose by approximately 2%. Production was slightly higher than deliveries, at 464,391, resulting in an excess of 22,000 cars built over delivered.
Market Dynamics: US vs. Europe
Last year's third quarter saw record deliveries in the US, partly due to a $7,500 credit that ended on September 30, 2025. In contrast, European registrations experienced a 17% fall in January, with notable drops in Norway and the Netherlands. However, the trend reversed in September, with significant growth in Portugal, France, Sweden, and Spain.
Electric Car Market Share
In August, electric cars captured 29% of new registrations across Europe, indicating a growing market share for Tesla and other electric vehicle manufacturers.
Tesla's Energy Business
Tesla's energy division expanded, deploying 13.7 GWh of storage in the quarter, a growth of 2.2 GWh over the previous year.
Upcoming Releases
The company's robotaxi network has expanded to six cities in Texas and Florida, and a driverless service powered by Chinese software is already operational in Zagreb, Europe. Tesla is set to release its Cybercab and begin production of Optimus before the end of the year, with earnings reported on October 21.
Conclusion
Despite delivery falls, Tesla's performance reflects a market where it is no longer the sole beneficiary of federal credits but still maintains a strong position, particularly in Europe, where it is reversing earlier declines and contributing to the broader growth of the electric vehicle market.