Tesla Deliveries Beat Expectations

Tesla reported third-quarter deliveries of more than 486,000 vehicles, beating Wall Street expectations and lifting its stock. The company said Europe helped offset weaker demand in the U.S. and China, helped by recovering registrations and stronger exports from Shanghai. The quarter remained below last year’s record, but it improved from the second quarter. That showed a sequential recovery while year-over-year sales stayed lower. Tesla faces tougher competition, especially in China, plus the loss of a U.S. federal EV tax credit and backlash tied to chief executive Elon Musk. Analysts had expected more than 461,000 deliveries. Tesla is now steering investor attention toward robotaxis, AI, robots and energy storage.