Tesla shares rose by 5.29% at 1:10 PM (Brasília time), trading at $372.85 (approximately R$ 2,015). This increase contributed to a $53.2 billion gain in Elon Musk's fortune, raising his net worth to $972 billion, according to Forbes.
The company reported that it delivered a total of 486,532 vehicles between July and September. This volume exceeded the analysts' estimate of 463,761 units.
Despite exceeding expectations, this result still indicates a 2% reduction compared to the third quarter of the previous year, when Tesla had delivered 497,009 vehicles.
The largest portion of deliveries was composed of the Model 3 and Model Y, which together totaled 478,237 units. The other vehicles manufactured by the brand represented 8,295 deliveries.
Stock appreciation impacts Elon Musk's wealth
The stock appreciation had a direct effect on Elon Musk's capital, who is the main shareholder and CEO of Tesla. According to Forbes, the growth in shares added $53.2 billion to the entrepreneur's wealth, reaching the mark of $972 billion on the magazine's real-time billionaires list, recorded at 1:10 PM (Brasília time).
Investors closely monitor delivery numbers, as they provide an indication of Tesla's commercial performance. However, the volume of cars sold alone does not reveal the company's profitability level.
To understand how sales influenced the automaker's financial results, investors will need to wait for the third-quarter balance sheet. Tesla announced that it will release its financial results on October 21, after market close, at which time data such as revenue and profit for the period will be presented.