Tesla surprises with its sales, but one figure dampens the optimism
- Published on 05/10/2026 7:15
- Modified on 05/10/2026 7:15
With 486,532 cars delivered in the third quarter of 2026, Tesla exceeds expectations. However, the Model 3 and Model Y now account for over 98% of its deliveries. A strength as much as a weakness.
Tesla is regaining momentum. The American automaker delivered 486,532 cars between July and September 2026, exceeding the consensus analyst forecast compiled by the brand by about 24,600 units. A pleasant surprise for a company whose commercial performance is scrutinized every quarter.
However, one must look at both sides of the results. Deliveries are up 1.3% compared to the previous quarter, but down 2.1% year-on-year. In the summer of 2025, purchases had been boosted in the United States by the announced expiration of the federal tax credit for electric cars.
Model 3 and Model Y: over 98% of Tesla deliveries
Behind the overall volume, one figure stands out: 478,237 delivered cars are Model 3 or Model Y. All other models combined account for only 8,295 units.
This duo remains essential. Its success allows Tesla to maintain considerable volumes, but this concentration also highlights its vulnerability: a slowdown in the sedan or the SUV would immediately have consequences for the entire brand.
Another interesting signal is that Tesla delivered 22,141 more vehicles than it produced during the quarter. This gap suggests a destocking, without allowing for an exact understanding of how many cars are still available for sale.
A decisive meeting for margins
However, these better-than-expected deliveries say nothing on their own about profitability. The prices set and the commercial conditions can support volumes while weighing on profits.
The financial results of October 21 will provide clarity. Tesla reassures about its capacity to deliver cars. The question remains how much each one brings in.
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This page is translated from the original post "Tesla surprend avec ses ventes, mais un chiffre tempère l’embellie" in French.
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