Tesla (NASDAQ: TSLA) started the week with strong signals for its automotive business. On Friday, October 2, the company said it delivered 486,532 vehicles in the third quarter of 2026, exceeding the 456,896 forecast by Reuters’ Visible Alpha by approximately 6.5%. Tesla said it produced 464,391 vehicles in the quarter. TSLA closed Friday at $370.59, up 4.65% from Thursday. The delivery report and positive market sentiment ahead of the October 21 release probably contributed to the stock price increase.

There are a few things worth mentioning. The delivery results improve the volume story, but not the profitability story. For the first 9 months of 2026, Tesla has delivered around 1.325 million vehicles, and it seems likely the company…