Tesla Q3 global deliveries fall 2 per cent to 486,532 but beat estimates

Elon Musk (File pic)

Tesla's global auto sales in the third quarter fell from last year's level but were higher than expected, the company reported Friday.

Shares jumped in early trading after Elon Musk's electric vehicle company reported deliveries of 486,532, two percent lower than the level in the year-ago period but above most leading estimates.

A drop had been expected in light of a surge in US third-quarter electric sales last year due to the September 30, 2025 expiration of an electric vehicle tax credit. The tax credit was eliminated under legislation backed by US President Donald Trump.

Friday's figures released by Tesla were global and did not break out US sales. But higher gasoline prices in light of the US-Iran war have boosted interest in EVs among some buyers.

Analysts at JPMorgan Chase had projected sales of 482,000, pointing to data from Europe in July and August showing increased sales from the year-ago level, while sales were lower in the United States and China.

Shares of Tesla rose 4.6 percent in early trading.

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