Tesla’s third-quarter deliveries miss estimates

© Reuters. FILE PHOTO: Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERS/File Photo

Tesla (NASDAQ:TSLA) Inc on Sunday announced its third-quarter electric vehicle deliveries were 343,830, lower than expected and weighed down by production stoppages to update its factory in Shanghai.

Analysts on average had expected the world’s most valuable automaker to deliver 359,162 units, according to Refinitiv, compared with the 241,300 units a year earlier.