Tesla produces over 430,000 vehicles in Q3

Company shares down 1.6% shortly after US stock market opening

By Ovunc Kutlu

ISTANBUL (AA) - American electric carmaker Tesla produced over 430,000 vehicles and delivered more than 435,000 in the third quarter of this year, according to a statement released Monday.

The company produced a total of 416,800 Model 3 and Y, and 13,688 Model S and X vehicles between this July-September.

The firm delivered 419,074 Model 3 and Y, and 15,985 Model S and X vehicles during the same period.

"A sequential decline in volumes was caused by planned downtimes for factory upgrades," the statement said, adding the firm's 2023 target of around 1.8 million vehicles remains unchanged.

The company will announce its financial results for the third quarter, which include net income, revenue and cash flow, after the market close on Oct. 18.

Tesla's stock price fell 1.6% to $246.16 per share at 9.33 a.m. EDT Monday (1333GMT) on the Nasdaq after closing Friday at $250.22 a share.

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