Tesla Delivers Record Q3 Sales Despite EU Slump
Tesla's sales have seen a mixed performance in recent months. Despite a decline in the first half due to production shifts and controversies surrounding Elon Musk, the TSLA stock has rebounded strongly in the last quarter.
Tesla delivered 497,099 vehicles in the last quarter, a 7.4 percent increase year-on-year, beating analyst expectations. This surge can be attributed to several factors. Firstly, US buyers rushed to purchase EVs before the federal tax credit expired. Secondly, Tesla's production and sales in Europe have been bolstered by Elon Musk's personal supervision following the departure of Omead Afshar. However, Tesla's European sales have been declining, with EU registrations dropping by 36.6 percent year-on-year in August, and market share falling to 1.2 percent. Despite this, Tesla's global production increased by 9 percent to nearly 470,000 units, indicating strong demand and inventory buildup for the fourth quarter. The company also set a new record for quarterly deliveries, surpassing the previous high from Q4 2024.
Tesla's sales performance has been volatile, with strong growth in the last quarter following a decline earlier in the year. While the company faces increased competition and a decline in European sales, it has shown resilience and continues to set records in global deliveries.
Read also:
- ZF Announces Major Restructuring Plan to Tackle Debt and Costs
- Aston Martin could potentially fit the Valkyrie race car with a straight pipe exhaust system.
- Latest Edition of Bus-News Magazine Arrives for 2023!
- Testing the Camp Mode of the 2025 Tesla Model Y with Juniper's interior housing two kids, shockingly low CO2 levels were discovered.
