Tesla has its best sales quarter ever as EV tax credit expires

Tesla achieved its best-ever quarterly vehicle deliveries in the third quarter, delivering 497,099 cars—a 29% increase from the previous quarter and a 7% rise year-over-year. This surge was largely driven by buyers rushing to capitalize on the expiring $7,500 federal EV tax credit. Similar sales spikes were observed across other U.S. automakers, with EV sales doubling despite the credit’s expiration. The boost was crucial for Tesla, which had been facing declining global deliveries for two consecutive years, impacting its profit margins. Several challenges have contributed to Tesla’s recent sales stagnation, including a lack of new models aside from the delayed Cybertruck, which has underperformed compared to competitors like the GMC Hummer EV. Additionally, CEO Elon Musk’s controversial political activities and leadership in federal government cuts have affected the company’s image. Looking ahead, Tesla aims to introduce a lower-cost Model Y variant priced in the low $30,000 range, potentially attracting more buyers. However, sustaining