Tesla delivers 486,532 vehicles in third quarter, beating estimates despite annual decline
Key Facts
Tesla delivered 486,532 vehicles in the third quarter of 2026, according to its production and deliveries statement, beating the average analyst forecast while remaining below the year-earlier level. The average estimate Tesla compiled from analysts before the announcement was 461,974 vehicles, the benchmark exceeded by the reported quarterly total. The company delivered 497,099 vehicles in the third quarter of 2025, pairing the positive surprise against expectations with a year-on-year decline. Deliveries rose from the second quarter of this year, when they totaled 480,126 vehicles. Tesla reported production of 464,391 vehicles in the third quarter, fewer than it delivered to customers during the same period.
The Model 3 and Model Y accounted for the bulk of the company's quarterly deliveries, according to the breakdown in Tesla's statement. Combined deliveries of the two models totaled 478,237 vehicles, within the global total the company reported for its automotive business during the period. Combined production of the two models reached 457,387 vehicles, also below their quarterly deliveries. Deliveries of other models totaled 8,295 vehicles, according to the category Tesla included in its statement. The company produced 7,004 vehicles in this category, with deliveries also exceeding production in this part of its business.
In China, sales of locally made Tesla vehicles, including exports, rose 5% year on year in September, according to Reuters. Growth accelerated from August, when those sales increased 3.6% from a year earlier, the agency reported. Sales of Shanghai-made vehicles totaled 95,366 in September, compared with 90,812 in the same month a year earlier. However, deliveries within China fell 9.35% year on year to 64,837 vehicles, according to CnEVPost. By contrast, the Shanghai factory exported 30,529 vehicles during the month, up 58.29% from a year earlier, with higher exports offsetting the decline in domestic deliveries within the factory's sales.
In its energy storage business, Tesla reported deploying products with a capacity of 13.7 gigawatt-hours in the third quarter of this year. Deployment fell short of the average analyst forecast compiled by the company before the announcement of 15.9 gigawatt-hours for the same period. The delivery and energy storage forecasts appeared in the consensus table Tesla published ahead of its operating results. Deployed storage capacity rose from the second quarter, when actual capacity totaled 13.5 gigawatt-hours. It also exceeded the level in the third quarter of the previous year, when the company reported deploying energy storage products with a capacity of 12.5 gigawatt-hours.
Alongside its automotive and energy businesses, Tesla's certification of Cybercab vehicles' compliance with safety standards is under scrutiny by the U.S. National Highway Traffic Safety Administration. Tesla began commercial service with these vehicles on September 3, 2026, according to the regulator's official order. The investigation aims to assess the technical data and processes the company relied on to certify compliance with federal safety standards. The agency said in its statement that current safety standards remain in force while work proceeds on amending the rules. It said: "Until this work is completed, the current standards remain in effect."
Tesla will report its third-quarter financial results after the market closes on October 21, 2026, according to the schedule set out in its statement. Analysts expect an average group gross margin of 17.9%, according to the earnings consensus table published ahead of the results. The average forecast for operating margin is 2.5% for the quarter, according to the same table. Analysts expect earnings per share of $0.23 under U.S. generally accepted accounting principles and adjusted earnings of $0.45 per share. Following the earnings release, Tesla's extended deadline to respond to the information request order concerning Cybercab's compliance with safety standards falls on October 30, according to EV Wire.