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After two quarters of falling sales, Tesla is expected to return to growth. Wall Street projects third quarter deliveries of about 462,000 vehicles, up about 6% year over year.

Tesla’s stock is shrugging off a slight beat on delivery numbers for the third quarter, as expectations had become elevated heading into Wednesday’s report.

Investors may be pleasantly surprised when Tesla announces its quarterly deliveries tomorrow. Negative sentiment may have been heightened by news from several of Tesla's Chinese competitors. Data released today showed those competitors reported record monthly electric vehicle (EV) deliveries in September.

Falling EV sales were a big reason Tesla shares were down some 45% year to date in mid-April. Coming into Wednesday trading, Tesla stock was up about 4% in 2024, staging a remarkable comeback. Returning to growth in the third quarter was a part of the reason for the rebound.