Tesla stock slips after EV maker misses estimates on deliveries

Tesla posted its third-quarter vehicle production and deliveries report, with total deliveries reaching 462,890 and total production at 469,796. Analysts were expecting slightly higher numbers, which caused the stock to fall. The company is facing increased competition, especially in China, from other EV makers. However, Tesla’s brand remains strong in the U.S. despite controversies surrounding CEO Elon Musk. The company’s stock climbed 32% in the third quarter, erasing earlier losses for the year. Investors will be closely watching profit margins in the upcoming earnings report. Tesla is also expected to showcase a new “dedicated robotaxi” design at a marketing event.