US EditionTesla Had Blowout Quarter for Sales of New Cars. Why the EV Stock Fell Sharply Anyway
Tesla sold 497,099 vehicles globally in Q3, driven by a rush before the $7,500 US federal tax credit expired on September 30, briefly lifting Elon Musk's net worth above $500 billion.
- In the third quarter, Tesla sold a record 497,099 vehicles worldwide from July through September and reports only global sales figures without regional breakdowns.
- Policy changes explain that quarterly vehicle deliveries through Sept. 30 rose 7% year-over-year after the $7,500 federal tax credit expired on September 30, eliminated in President Donald Trump's bill.
- Despite the headline, the quarter barely eclipsed Tesla's prior record of 495,570 deliveries, only 0.3% higher, while Volkswagen posted 231% growth and Hyundai cut IONIQ 5 prices by $9,155.
- Forbes reported Elon Musk, CEO of Tesla and SpaceX, briefly reached a net worth of $500.8 billion, but that figure is largely theoretical and tied up in illiquid holdings.
- Looking ahead, analysts point to BYD's 1.6 million sales this year versus Tesla's 1.2 million and Goldman Sachs highlighted third-quarter earnings and Tesla's November 6 shareholder meeting as key catalysts, writing `If Tesla can give investors more confidence on the longer-term profit opportunity.
12 Articles
12 Articles
Tesla Sales Record Not Nearly As Positive As It Seems - CleanTechnica
As expected, Tesla had a big quarter of sales in the 3rd quarter. With the US EV tax credit being phased out, many buyers rushed to get their Teslas while they could benefit from the financial subsidy. Some headlines have cheered Tesla’s record quarter, but I have to admit that ... [continued] The post Tesla Sales Record Not Nearly As Positive As It Seems appeared first on CleanTechnica.
By Chris Isidore, CNN Tesla sales soared to a record high in the third quarter as US buyers rushed to snap up cars before a $7,500 federal tax credit expired on September 30. The company sold a record 497,099 vehicles worldwide between July and September, slightly higher than the company’s previous record set in the final three months of 2024. This also represents a 29% increase from the 384,122 sold in the second quarter and a 7% increase from …
Elon Musk’s wealth hits the Half-Trillion mark in a historic first
The news landed like a meteor strike: Elon Musk, the CEO of Tesla and SpaceX, has officially become the world’s first person to command a net worth of half a trillion dollars, an unprecedented $500 billion fortune. Following a relentless surge in the value of his intertwined ventures, particularly Tesla and the increasingly impactful space and AI companies, SpaceX and xAI, this benchmark moved him beyond being simply a rich man into the realm …
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