Tesla Q3 Deliveries Hit Record on Tax Credit

Tesla reported a third-quarter delivery record of 497,099 vehicles, up 7.4% year‑on‑year, led by 481,166 Model 3 and Model Y deliveries that beat estimates. The surge was attributed largely to U.S. buyers rushing to claim a $7,500 federal EV tax credit that expired Sept. 30, a one‑time boost many analysts expect will reverse. Production fell about 4.8% year‑on‑year, and Europe remained weak (down roughly 22.5%) while China showed improvement, including the launch of a long‑wheelbase Model Y L. Visible Alpha and other analysts project full‑year 2025 deliveries around 1.61 million (about 10% below 2024) and warn of a potential Q4 sales slump now that the credit has ended. Investors and analysts also flagged longer‑running challenges — rising competition, an aging lineup with limited near‑term Cybertruck impact, and demand sensitivity to CEO Elon Musk’s profile — leaving near‑term momentum uncertain.