Yardeni Research President Ed Yardeni joined a panel to discuss how higher yields weigh on equities. He evaluated the Magnificent 7 stocks against the S&P 500 and offered an outlook for the technology and communication sectors.
Tesla exceeded Wall Street expectations for third‑quarter deliveries on Friday, as a resurgence in European sales offset weaker demand in the company’s two largest markets, the United States and China.
Premarket shares of the Austin‑based automaker rose about 2 %, though the stock remains down roughly 21 % year‑to‑date.
The rebound in Europe helped mitigate the impact of lost U.S. tax incentives last year and tougher competition in China.
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Stronger European vehicle sales offset weaker U.S. and China demand. (John Paraskevas/Newsday RM via Getty Images)
The company delivered 486,532 vehicles in the July‑September period, beating analysts’ average estimate of 456,896 vehicles, according to data compiled by Visible Alpha.
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The delivery figures suggest Tesla’s core car business may be leveling off after two straight years of falling annual sales. It needs to deliver at least 311,448 vehicles in the fourth quarter to avert a third consecutive annual decline in deliveries.
Demand looked strong going into the quarter, with CFO Vaibhav Taneja noting in July that Tesla “exited Q2 with our largest order backlog since 2023.”
After a downturn in Europe the previous year—partly due to backlash against CEO Elon Musk’s politics—EU registrations climbed about two‑thirds through August. In France, the Model Y became the best‑selling car of any type, marking the first time a Tesla topped that ranking.
Exports from Tesla’s Shanghai factory nearly doubled in July and August.
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Tesla recently added its purpose‑built Cybercab to its existing robotaxi service in Austin. (Mike Blake/Reuters)
Analysts expect the slow rollout of the company’s Full Self‑Driving software in Europe to help sales further as FSD is now approved in eight countries.
Investors have increasingly looked past quarterly deliveries as Musk shifts Tesla’s focus toward AI, autonomous vehicles, humanoid robots, and energy solutions.
Tesla’s robotaxi service now runs without a safety supervisor inside the car in Texas and Florida. The company added its purpose‑built Cybercab to its existing robotaxi service in Austin last month.
The firm produced 464,391 vehicles during the third quarter, below the 486,761‑vehicle estimate.
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