Stock Market Today, Oct. 2: Tesla Rises on Q3 Delivery Beat

Tesla (TSLA +4.65%), 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 (^GSPC +0.73%) closed at 7,723, up 0.74%, while the Nasdaq Composite (^IXIC +1.19%) finished at 27,191, up 1.19%. Among electric vehicle and energy storage manufacturing peers, Rivian Automotive (RIVN -3.12%) closed at $14.30, down 3.12%, and Lucid Group (LCID -1.43%) 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.