Tesla (TSLA) reported record third-quarter deliveries of 497,099 vehicles, far exceeding Bloomberg’s consensus estimate of 439,600. Deliveries rose 7.4% year-over-year, while production came in at 447,450 units, slightly below forecasts and down 4.8% from last year.
- Model 3 and Y: 481,166 deliveries (+9.4% YoY), easily topping the 424,828 estimate.
- Other models: 15,933 deliveries, below expectations but up 53% quarter-over-quarter.
- Energy business: Record 12.5 GWh of storage deployed.
The surge comes as buyers rushed to secure EV purchases before the US federal $7,500 EV tax credit expired, a factor analysts say played a major role in boosting demand. Deepwater’s Gene Munster argued that 90% of the upside was tax-credit driven, while others pointed to stronger China sales as a real driver.
Tesla shares initially rose 3% in premarket trading but later turned negative, reflecting investor caution about what happens in a post-tax-credit market. Rival automakers Ford (F), GM (GM), and Rivian (RIVN) also saw Q3 EV boosts from the same policy shift.
Looking ahead, Elon Musk has warned of “rough quarters” as Tesla delays the rollout of its cheaper EV model and faces stiff competition in Europe, where registrations dropped 22.5% in August. Still, Tesla stock remains up more than 30% in September as investors bet on Musk’s push into AI, autonomy, and robotaxis.
Tesla will report full Q3 earnings on October 22.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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