Tesla Delivers 486,532 Electric Vehicles in the Third Quarter Despite Declining U.S. Sales

Tesla sold more than 480,000 electric vehicles in the third quarter. The company announced Friday that it built 464,391 vehicles and delivered 486,532 cars. This result beat Wall Street estimates and marked the second strong quarter in a row following a slow start to the year. Total deliveries rose by about 6,000 vehicles compared to the second quarter.

However, sales fell below the 497,000 vehicles delivered during the same period last year. U.S. sales dropped nearly 20% year-over-year due to older consumer models, weak demand for the Cybertruck, and controversy around CEO Elon Musk. To offset the U.S. decline, Tesla grew sales in Europe and China, while expanding factory capacity in Germany.

Meanwhile, Tesla recently launched driverless Cybercab rides in Austin, Texas, and started production of the Tesla Semi big rig, aiming to build 50,000 units annually. The company also set a re-reveal date of October 15 for the second-generation Roadster and secured up to $30 billion in new credit lines to fund its projects.