Tesla third-quarter deliveries beat estimates on Europe rebound

Tesla delivered 486,532 vehicles in the July-September quarter, beating analysts’ average estimate of 456,896 as demand recovered in Europe, according to figures reported Friday. The result exceeded expectations despite the loss of U.S. tax incentives and stronger competition in China, while production fell short of analysts’ estimate. Tesla produced 464,391 vehicles during the quarter, below the 486,761 production estimate cited in the reports. The gap between deliveries and production underscores that the two measures moved differently: customer deliveries beat forecasts, but manufacturing output did not. The reported European recovery helped offset headwinds in other markets, though the accounts did not quantify how much it contributed to the delivery result. European Union registrations rose about two-thirds through August, according to the reported figures, but no comparison baseline was specified. The Model Y was reported as France’s best-selling car of any type, and exports from Tesla’s Shanghai factory nearly doubled in July and August.