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Tesla reported a rise in quarterly electric car sales for the first time this year as it battles competition from China.
The US company, led by Elon Musk (pictured), sold almost 463,000 vehicles in the three months to the end of September.
Performance: US company Tesla, led by Elon Musk (pictured), sold almost 463,000 vehicles in the three months to the end of September
This was 6 percent more than the same period last year and 4 percent more than the previous quarter.
But it was slightly below Wall Street’s prediction of nearly 464,000 and shares fell about 3.8 percent in early trading.
This leaves the electric car maker needing a record fourth quarter to avoid its first annual drop in deliveries.
Analysts at Wedbush Securities said the figures were a “small step in the right direction” but “there is clearly more heavy lifting ahead.”
They said it will be a “feat” if Tesla hits its sales target of 1.8 million by 2024, given the challenges it faces.
Tesla has slashed prices in a bid to fight off cheaper alternatives from Chinese competitors.
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