Tesla's Q3 deliveries beat expectations as the sequential decline reverses
Deliveries beat consensus but still fell year over year; demand after the federal tax credit's expiry is the key thing to watch.
Tesla delivered 486,532 vehicles in the third quarter, above the roughly 461,100 analysts expected, and the stock rose 5% on the day.
Deliveries were still down about 2% from 497,099 a year earlier, but up from 480,126 in the second quarter. The US federal EV tax credit ended early on September 30, 2025, putting direct pressure on fourth-quarter demand.
Energy storage deployments reached 13.7 GWh, up from 12.5 GWh a year earlier, with Megapack and similar systems serving data centers and utilities. Model 3 and Model Y accounted for 98% of deliveries. Tesla reports third-quarter earnings on October 21.
Sources:https://www.cnbc.com/2026/10/02/tesla-tsla-q3-2026-vehicle-delivery-production.html