Tesla delivered 435,059 vehicles globally in the third quarter, down 6.67 percent from the second quarter. The decline was due to planned downtimes for factory upgrades, Tesla said.
Tesla (NASDAQ: TSLA) posted weaker-than-expected third-quarter global deliveries, though left its full-year sales target unchanged.
The US electric vehicle (EV) maker delivered 435,059 vehicles globally in the third quarter, missing the consensus analyst estimate of 456,722 in a Bloomberg survey, according to data released today.
That's up 26.53 percent year-on-year but down 6.67 percent from the second quarter.
"A sequential decline in volumes was caused by planned downtimes for factory upgrades, as discussed on the most recent earnings call," Tesla said.
"Our 2023 volume target of around 1.8 million vehicles remains unchanged," the company added.
In the January-September period, Tesla delivered 1,324,074 vehicles worldwide.
Tesla's pricier Model S and Model X delivered 15,985 units in the third quarter, below analysts' expectations of 17,700 units.
Its less expensive Model 3 and Model Y delivered 419,074 units in the third quarter, below estimates of 439,400 units.
Tesla produced 430,488 units in the third quarter, below estimates of 462,000 units.
Model S and Model X production in the third quarter was 13,688 units, below market estimates of 18,500 units. Model 3 and Model Y were 416,800 units, below estimates of 454,100 units.
In China, Tesla has a factory in Shanghai that produces the Model 3 and Model Y. It's its largest factory in the world, with an annual production capacity of about 1.1 million units a year.
Tesla doesn't officially announce its deliveries in China, though the China Passenger Car Association (CPCA) publishes those numbers every month.
Tesla's retail sales in China were 31,423 units in July and 64,694 units in August, and its Shanghai factory exported 32,862 units and 19,465 units in those months, according to the CPCA.
The company's September sales figures in China are expected to be available within days.
BYD (OTCMKTS: BYDDY), one of Tesla's main rivals in China, delivered 824,001 new energy vehicles (NEVs) in the third quarter, including 822,094 passenger cars as well as 1,907 commercial vehicles, according to figures released earlier today.
BYD's passenger vehicle sales in the third quarter included 431,603 battery electric vehicles (BEVs), which are similar to Tesla vehicles, and 390,491 plug-in hybrids (PHEVs).
BYD sold 1,048,413 passenger BEVs in the January-September period, surpassing the 1-million-unit mark, up 80.1 percent year-on-year.
The Chinese NEV maker sold 1,021,842 passenger PHEVs in the January-September period, also exceeding the 1-million-unit mark, up 72.26 percent year-on-year.