FILE PHOTO: Tesla vehicles are seen for sale at a Tesla facility in Fremont, California, U.S., May 23, 2023. REUTERS/Carlos Barria/File Photo
(Reuters) - Tesla missed market estimates for third-quarter deliveries on Monday as the automaker was forced to curb production due to planned factory shutdowns, sending its shares down 3.7% in trading before the bell.
The electric-vehicle maker handed over 435,059 vehicles in the three months to Sept. 30, down nearly 7% from the preceding quarter.
The world's most valuable automaker produced 430,488 vehicles in the third quarter, compared with 479,700 in the second quarter and 365,923 a year earlier.
Wall Street on average had expected Tesla to deliver 454,100 vehicles, according to 19 analysts polled by Visible Alpha.
An LSEG-compiled figure of eight analysts put the estimate at 459,949 vehicles, with the lowest estimate at 442,000 and the highest at 511,405.
(Reporting by Aditya Soni and Akash Sriram in Bengaluru; Editing by Arun Koyyur and Anil D'Silva)
