TSLA: Tesla Stock Charges Higher After EV Maker Posts Record 497,099 Deliveries

Strong quarter, largely because tax credits expired at the end of September. But a record’s a record!

🚗 Record Quarter (With an Asterisk)

• Tesla stock TSLA pumped as much as 3% early Thursday, but couldn’t hold on to the gains as traders digested the EV maker’s quarterly delivery numbers. They were blockbuster numbers. But not without a caveat.
• Tesla delivered 497,099 vehicles in the third quarter, a 29% jump from the second quarter and up 7.4% from last year’s third quarter. That’s also a record. But context matters: US buyers rushed in to beat the September 30 expiry of the $7,500 federal EV tax credit.
• Year-to-date deliveries sit at 1.2 million cars — lower by almost 6% from the same stretch in 2024. So while the quarter looks strong, the broader trend is still showing strain. Expectations for the quarter were sitting at 447,000. An easy beat there.
• The question on everyone’s mind today was whether the momentum can continue without the tax-credit sugar rush. Spoiler: It’s going to be tough – competition is heating up fast.

🌍 Europe Trouble, US Cushion

• European deliveries remain weak, hit by consumer pushback against Musk’s political rhetoric and strong competition from BYD and other local EV makers.
• The US market, by contrast, surged in Q3 thanks to the tax credit deadline. Without that driver in Q4, demand could face a serious test.
• What to make of that data? Tesla’s growth engine is sputtering in Europe, and the US just burned through one of its biggest tailwinds.

📈 Stock on a Wild Ride

• Tesla stock has been ripping higher lately, up 40% in Q3 alone after a brutal start to 2025. As of Wednesday’s close, shares are up 20% year-to-date versus an 18% gain for the Nasdaq.
• Deliveries data usually sparks short-term volatility, but investors are now looking past the headline number at sustainability.
• Bulls want to believe this record is the start of a new upcycle. Bears point to fading tax credits, Europe’s slump, and intensifying competition.