Tesla reports gains | CTV News [Video]

Tesla reported an increase in sales for the first time this year, although its year-to-date sales still trail the same period of 2023.

The company delivered nearly 463,000 vehicles worldwide in the third quarter, up six per cent from the year ago sales figure and up four per cent from the total delivered in the second quarter of this year.

Tesla’s history of steady year-over-year sales gains, and its forecast of continued gains, is one of the reason that its stock has the greatest market value of any automaker in the world by a large margin. But the company is facing increased competition from established automakers who are offering more electric vehicle models of their own.

The first and second quarters of this year saw Tesla reports drops in sales of nine per cent and five per cent, respectively, the first time in the company’s history that it reported two …