Stock Market Today, Oct. 2: Tesla Rises on Q3 Delivery Beat
Tesla (NASDAQ:TSLA), a global electric vehicles (EV), battery storage, and energy software provider, closed at $370.59, up 4.65%. Tesla rose after reporting Q3 deliveries that beat Wall Street estimates, and investors are watching October earnings and energy-storage trends next.
Trading volume reached 53.9 million shares, coming in about 39% above its three-month average of 38.7 million shares. Tesla IPO'd in 2010 and has grown 23,208% since going public.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) closed at 7,723, up 0.74%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) finished at 27,191, up 1.19%. Among electric vehicle and energy storage manufacturing peers, Rivian Automotive (NASDAQ:RIVN) closed at $14.30, down 3.12%, and Lucid Group (NASDAQ:LCID) closed at $4.13, down 1.43%.
What this means for investors
While Tesla's competitors experienced share price declines, the EV leader continues to prove why it's the preeminent electric carmaker. On Friday, Tesla's third-quarter deliveries of 486,532 topped consensus estimates by about 25,000 vehicles, reinforcing the company's near-term demand momentum. This result is particularly impressive, considering federal EV tax credits expired in September of 2025.
Of the 486,532 vehicle deliveries, Tesla's Model 3 and Y comprised 478,237 of them. These low-cost models remain popular with consumers, with the Model Y achieving three consecutive years as the world's best-selling car as of the end of 2025.
Wall Street is now watching whether the electric automaker's production and delivery strength carries into results and guidance. The better-than-expected deliveries suggest Q3 sales could be excellent. Tesla's $28.2 billion in Q2 revenue represented outstanding 26% year-over-year growth.
On the same day, rival Rivian announced it had accomplished a record high in Q3 deliveries and reaffirmed full-year guidance. This is significant, since it points to fresh marketwide EV demand, suggesting Tesla's delivery beat could be part of a stronger industry recovery.
Tesla has experienced a busy year. The company officially launched its autonomous-vehicle Cybercab in September, a robotaxi service that will compete with ride-hailing businesses, such as Uber, and began deliveries of its semi trucks, marking another product milestone.
Don’t miss this second chance at a potentially lucrative opportunity
Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this.
On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves:
- Nvidia: if you invested $1,000 when we doubled down in 2009, you’d have $600,189!*
- Apple: if you invested $1,000 when we doubled down in 2008, you’d have $63,011!*
- Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $365,910!*
Right now, we’re issuing “Double Down” alerts for three incredible companies, available when you join Stock Advisor, and there may not be another chance like this anytime soon.
See the 3 stocks »
*Stock Advisor returns as of October 2, 2026.
Robert Izquierdo has positions in Rivian Automotive, Tesla, and Uber Technologies. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends Uber Technologies. The Motley Fool has a disclosure policy.
Recommended Articles
