Tesla Inc (NASDAQ:TSLA) shares fell 3.3% premarket as deliveries for the third quarter came in lower than expected.
The electric vehicle group delivered 462,890 vehicles from July to the end of September, up from 443,956 in the second quarter but below the consensus forecast of 463,897.
Production rose to 469,796 vehicles for the third quarter from 410,831 in the second, which was ahead of the average estimate of 465,828.
Analysts had expected demand to have stabilised in recent months after a tough first half, thanks to the likes of favourable deals in China.
“We are confident that we will see a significant growth figure in the region for its third quarter performance as the company has seen a record few months,” said Wedbush analyst Dan Ives, who expected deliveries closer to 465,000-470,000.
Demand in Europe was likely have continued to weigh on figures, Ives acknowledged, though this should have been offset by better sales in China as well as the US.
The figures are set to come out ahead of a Tesla event in Los Angeles on October 10, which is widely expected to see the manufacturer showcase its robotaxi design.
Tesla said it will post its Q3 financial results after market close on October 23.