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Tesla misses estimates for third-quarter deliveries on stiff competition

Economic Times · 1m

- Tesla's third-quarter deliveries fell short of analyst expectations, raising concerns about its annual delivery targets and prospects for sustainable growth. - Growing consumer interest in hybrids, lack of European subsidies, and strong competition in China affected Tesla's deliveries. - Tesla needs a record-breaking 516,344 vehicle deliveries in Q4 to maintain its 2023 delivery levels and avoid its first annual drop in deliveries. - Despite falling short of expectations, the return to growth for Tesla's deliveries was seen as a positive sign, indicating that the company's incentives to boost demand were working. - BMW surpassed Tesla in the European battery electric vehicle market, signaling increased competition from domestic firms. - Tesla's deliveries were higher than rival BYD, although BYD's focus on plug-in hybrid vehicles led to significant growth in that segment.