Tesla sales surge to record high in the US; Europe remains weak spot as Chinese …
Tesla reported a record-breaking quarter for vehicle deliveries, fueled by a surge in U.S. electric vehicle (EV) purchases ahead of the expiration of a $7,500 federal tax credit on September 30. The company delivered 497,099 vehicles worldwide in the third quarter, a 7.4% increase from the previous year, surpassing Wall Street’s average estimate of 439,600 units, according to Bloomberg. Despite the strong performance, Tesla’s shares dipped as much as 3.2% by noon New York time on Thursday, following a 33% stock surge in September that added $401.9 billion to its market capitalization. The temporary sales boost, driven by the tax credit deadline, provided a lift to Tesla’s core automotive business, which had faced challenges from an aging product lineup, rising competition, and consumer backlash tied to CEO Elon Musk’s political activities earlier this year, including his close work with President Donald Trump.
