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Tesla delivers 486,532 vehicles in Q3, topping estimates

Tesla delivered 486,532 vehicles in Q3, beating expectations of about 462,000 and lifting shares nearly 5% the day the deliveries were reported, with the stock up about 10% over the prior week.

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Tesla reported third-quarter vehicle deliveries of 486,532, exceeding Wall Street expectations of roughly 462,000, according to MarketBeat Ratings.

The outlet said the deliveries marked Tesla’s second-highest quarterly total on record, despite a slight year-over-year decline, and that shares jumped almost 5% on the day.

MarketBeat Ratings noted the stock had already risen around 10% over the week and was trading near $380 at the time of the report, leaving investors focused on what happens next as full earnings are expected in about two weeks.

The outlet also pointed to Europe as a key driver of improved demand, saying registrations surged last month and that the result helped blunt earlier concerns about a demand slowdown.

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