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Tesla (TSLA) 3Q 2019 production and delivery number




Tesla Model 3

Silas Stein | image alliance | Getty Images

Electric car manufacturer Tesla's deliveries of vehicles in the third quarter fell below investor expectations, despite the record-high 97,000 vehicles.

The company's stock fell more than 4% in afternoon trading with the news Wednesday.

19659002] Analysts expected Tesla to deliver 99,000 vehicles during the third quarter, including 80,200 Model 3s, according to data compiled by FactSet. During the second quarter, Tesla delivered a record 95,200 electric cars, blowing away analysts' estimates of 91[ads1],000.

Tesla said it delivered 79,600 Model 3 cars and 17,400 Model S and X cars in the third quarter.

Tesla has long struggled to meet CEO Elon Musk's aggressive production and sales goals.

Musk set expectations high this quarter, telling employees in a recent email that the company "has a shot" at delivering 100,000 cars, which would set a new record. Shares of Tesla jumped more than 5% after Electrek news site Electrek reported the email last week.

Tesla has told shareholders to expect deliveries this year to fall between 360,000 and 400,000 vehicles, an increase of 45% to 65% from 2018.

This year, Tesla began sales and deliveries to customers in greater reach than anyone once before. It now sells electric vehicles in China, Australia, Taiwan, the United Kingdom and several markets throughout Eastern Europe, including Poland and Hungary.

Tesla sends its cars from the United States to major markets, especially China, where authorities exempted their electric cars from a 10% purchase fee in late August. Equity research firm JL Warren Capital expected orders in China to increase after this, in September, but warned shareholders that it would take time for these orders to be translated into completed deliveries.

– CNBC's Lora Kolodny contributed to this report.



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