Tesla’s quarterly vehicle deliveries fell short of market expectations, damping hopes for a robust rebound on the back of a recovery in Chinese car demand.
The company delivered 462,890 vehicles globally in the three months to September, up 6.4 per cent from a year earlier. The increase was the first this year but missed Wall Street expectations for 463,000 vehicles. That pushed down its shares by more than 6 per cent on Wednesday.
However Tesla retained its position as the top electric vehicle maker. This week, China’s BYD reported that third-quarter deliveries of EVs totalled 443,426 — a 2.7 per cent rise from the previous year.
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