BAKU, Azerbaijan, October 2. Tesla is on course to end two consecutive years of declining sales after the electric vehicle maker reported third-quarter deliveries that exceeded Wall Street expectations.
Tesla’s deliveries received a boost from a recovery in Europe, giving the company a potential route back to sales growth without relying on US tax incentives.
Shares of the Austin, Texas-based automaker rose more than 5 percent in early trading following the release of the delivery figures. The company’s shares had fallen by about one-fifth since the beginning of the year.
The latest figures indicate that Tesla’s core automotive business may be regaining momentum after a period of declining sales.
At the same time, investors are increasingly focusing beyond Tesla’s quarterly vehicle deliveries on Chief Executive Officer Elon Musk’s broader strategy involving artificial intelligence, robotaxis and humanoid robots.
The delivery results could therefore provide renewed attention to Tesla’s vehicle business while the company continues to expand its activities in artificial intelligence and autonomous transportation.
