In afternoon trading on Thursday, Tesla shares were 5% lower at $230.92.
In a statement released after Wednesday’s New York close, Tesla said it delivered about 97,000 vehicles in the third quarter, including 79,600 Model 3 sedans, below the analyst consensus forecast for about 99,000 vehicles, including 80,200 Model 3s.
The company delivered 84,000 vehicles in the third quarter of 2018, including about 56,000 Model 3s.
Tesla said it achieved “record” net orders in the third quarter, and added that it is seeing an increase in its order backlog in the current quarter.
“We are continuing to focus on increasing production to meet that demand,” it added.
Tesla reports delivery and production numbers quarterly, but does not break the numbers down by region or other factors.
In a note on the delivery numbers, analysts at Cowen repeated an Underperform rating and $140.00 price target on Tesla shares, saying the electric vehicle maker’s year-on-year “growth story” has likely ended.
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