Tesla (NASDAQ:TSLA), an electric carmaker, reported deliveries of 11,580 vehicles during the third quarter, 49% more than a year earlier.
The result comes in line with the Palo Alto, California-based company’s August forecast for the period, but remains off the pace needed to hit its annual target.
Tesla has a goal of delivering between 50,000 and 55,000 this year, a target that would require a surge in output of its $76,000 and up Model S sedans and in Model X SUVs in the current quarter.
Through September 30, Tesla has sold 33,117 vehicles this year.
"This is only one measure of our financial performance and should not be relied on as an indicator of our quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles," the company said in a statement late on Friday.
Shares fluctuated in premarket trades on Monday and was last down 0.1% at $247.33. The stock is up 11% this year.