Tesla Delivers Record Q3 2023 Vehicles, Stock Up Ahead of Earnings
Tesla's stock and vehicle deliveries have shown significant growth, with the electric vehicle maker set to release its Q3 financial figures on Yahoo Finance later this month.
Market expert Alfred Maydorn's 2017 recommendation to buy Tesla stock has proven prescient, with the company's shares surging by over 2,000 percent since then. Tesla's latest delivery figures have further boosted investor confidence. The company delivered 497,099 vehicles in Q3 2023, surpassing analyst predictions of 456,000 vehicles and marking a seven percent increase compared to the same period last year.
Tesla's production also saw a boost, with 447,450 vehicles rolling off the production line in Q3 2023, although this was a slight decrease from the 469,796 vehicles produced in the same period last year. The Model 3 and Y accounted for a significant portion of this, with a combined total of 435,826 units produced. Despite the slight decrease in production, demand for Tesla vehicles remains robust, as evidenced by the strong delivery figures.
Tesla's stock is up around three percent ahead of the Wall Street open, buoyed by the positive delivery figures. The company's Q3 financial figures, due on October 23, will provide further insight into its performance. Meanwhile, Bernd Föst, majority shareholder and CEO of Börsenmedien AG, holds positions in Tesla that could potentially benefit from any positive price developments following the publication of the financial results on Tesla stock.
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