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Tesla reports record quarterly deliveries, but Model 3 sales underwhelm bulls

By Tina Bellon and Akanksha Rana



a man standing next to a car: FILE PHOTO: Man walks by Tesla Model 3 sedans and Tesla Model X sport utility vehicle at a new Tesla showroom in Shanghai


© Reuters/SUN YILEI
FILE PHOTO: Man walks by Tesla Model 3 sedans and Tesla Model X sport utility vehicle at a new Tesla showroom in Shanghai


(Reuters) – Tesla Inc on Friday said it delivered 139,300 vehicles in the third quarter, a quarterly record for the electric carmaker, but shares fell 5.7% in pre-market trading.

The company slightly beat consensus estimates by Refinitiv for deliveries of 134,720 vehicles, but fell short of some of Wall Street’s most bullish forecasts, with analysts issuing a wide range of estimates.

While the broader market was down on Friday morning, Tesla shares were among the heaviest decliners.

Tesla delivered 124,100 Model Y and Model 3 units, slightly below Refinitiv consensus expectations of 128,000 Model 3 and Model Y vehicles combined. Some analysts had expected weaker U.S. demand for the mass-market Model 3 due to the release of the

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