Tesla reported third-quarter global deliveries of 486,532 vehicles on October 2, beating the average analyst estimate of 463,761 compiled by Bloomberg. The news, reported by Chinese outlet Gasgoo, suggests the company's core electric-vehicle business is stabilizing after a period of declining sales and a sluggish stock price.
CEO Elon Musk is pivoting Tesla toward artificial intelligence, autonomous driving, and humanoid robots, even as the company faces a price war in China and weakening demand in the United States. According to RBC Capital Markets analyst Tom Narayan, the strong delivery numbers were aided by US automakers scaling back their EV efforts and high fuel costs boosting demand for electric cars.
Tesla's shares rose 5% following the announcement, though they remain down for the year. The stock has rebounded slightly since late July, partly due to speculation that Musk might merge Tesla with his rocket company, SpaceX. However, the Q3 figure is still lower than the 497,099 vehicles delivered in the same period last year, when US federal subsidies were about to expire, prompting a rush of purchases.
Wall Street expects Tesla's full-year sales to edge up after two consecutive years of decline. StoneX analyst Mickey Legg noted that the better-than-expected deliveries could lead to upward revisions in forecasts for Tesla's automotive business, though uncertainty remains in its energy storage segment.
Expansion and new models
Tesla plans to invest over $25 billion this year to expand factories and launch its Robotaxi service. The company has secured $30 billion in new loans and credit lines to support this expansion, according to recent filings. Tesla has streamlined its lineup, discontinuing the Model S and Model X, and now sells the Model Y, Model 3, and the controversial Cybertruck. Upcoming models include the long-awaited Roadster and the Cybercab, a purpose-built autonomous taxi without a steering wheel or pedals, which is already in production. Tesla also sells the Semi electric truck.
In the third quarter, Tesla's energy storage business installed 13.7 GWh, up from 12.5 GWh a year earlier and slightly above the 13.5 GWh in Q2. In Europe, Tesla's registrations rose about 53% year-on-year in August, and cumulative growth for the first eight months of 2026 reached 66%, according to the European Automobile Manufacturers' Association. This rebound follows a slump last year attributed to Musk-related controversies, but is now driven by surging oil prices and an influx of affordable Chinese EVs.
In China, Tesla has been offering discounts on the Model 3 and Model Y at quarter-end to defend its share in an increasingly competitive market. Data from the China Passenger Car Association shows that of the 86,000 vehicles produced at Tesla's Shanghai plant in August, about 36,000 were exported, while domestic deliveries declined month-on-month. The European growth has helped offset headwinds in other regions, according to Gasgoo.
