Key facts
- Tesla sold 486,532 vehicles in the third quarter.
- Third-quarter deliveries were down 2% year over year.
- Analysts expected around 463,761 deliveries.
- Tesla's robotaxi network is limited to six cities in Texas and Florida.
- Tesla shares rose more than 2% in premarket trading.
Tesla announced on Friday that it sold 486,532 vehicles in the third quarter, a 2% decrease year over year, but a figure that surpassed Wall Street's expectations. Analysts, according to a consensus compiled by Bloomberg, had anticipated around 463,761 deliveries. Tesla shares saw a rise of over 2% in premarket trading following the announcement.
The US electric vehicle market has experienced a significant downturn since the expiration of the $7,500 tax credit for new EVs in September 2025, with August sales down 47% from 2025, according to Cox Automotive. Despite this, Tesla has managed the challenging market better than many competitors, increasing its US market share and achieving a substantial sales beat in the second quarter.
However, investor sentiment appears to be shifting, with a greater interest in Tesla's robotics and autonomous vehicle ventures. The company began integrating the Cybercab, a pedal-less and steering-wheel-less robotaxi, into its fleet in September and plans to start production of its Optimus humanoid robot by year-end. The robotaxi network's current limited presence in six Texas and Florida cities lags behind rivals like Waymo and Musk's ambitious targets.
This slower progress in autonomous technology has contributed to Tesla's stock price decline of over 20% year-to-date. Speculation about a potential merger with SpaceX, which has surpassed Tesla's market capitalization, has also captured investor attention. Musk himself has alluded to potential actions regarding the relationship between the two companies.