Tesla shares after the report

Shares of electric car maker Tesla (NASDAQ: TSLA) fell 6.5% to $248 in Nasdaq premarket trading on Monday, October 3. At the time of writing, the decline has slowed to 4.62%.

Quotes started the decline on the back of the release of the quarterly supply report. Tesla delivered a record 343,830 vehicles worldwide in the third quarter of 2022, but experts predicted sales would rise to 358,000 units.

Output was 365,000 units. By comparison, Tesla's July-September 2021 deliveries reached 241,300 electric vehicles with production of 237,823 units.

Quarterly delivery volume is one of the key metrics that Tesla investors keep an eye on. The company will publish a full report for the period after the market closes on October 19.

So, total production is up from the previous quarter of 2022, when the company said it produced 258,580 vehicles. Tesla earned 19,935. according to the report, produced the more expensive Model S and X cars and 345,988 of the more popular Model 3 and Y during the third quarter.

Tesla faced growth challenges in the third quarter of 2022 due to new plants, executive business and rising commodity prices in Germany and Texas.

Analysts' view

Wall Street analysts were divided over the electric car maker's report, with the drop in share prices suggesting that investors are concerned about supply figures.

A Goldman Sachs analyst backed Tesla's buy rating and said the company would continue to benefit from the long-term shift to electric vehicles, while a JPMorgan analyst who gave Tesla a low rating said the loss of earnings was the firm's fault. was in line with expectations.

Analyst Cowen assessed the company's market performance, citing missed deliveries and production figures.