Tesla’s Record Deliveries Fall Short of Quarterly Target

Tesla vehicles sit in a parking lot on Oct. 28 after arriving at a port in Yokohama, Japan. Photo: Bloomberg

(Bloomberg) — Tesla Inc. delivered fewer vehicles than analysts expected last quarter, missing estimates despite taking the unusual step of offering hefty incentives in its two biggest markets.

The company handed over 405,278 vehicles to customers in the last three months, short of the 420,760 average estimate compiled by Bloomberg. While the total was a quarterly record for Tesla, the company opened two new assembly plants last year and still came up short of its goal to expand deliveries by 50%.