Overview

• Tesla delivered 497,099 vehicles in Q3, up 7.4% year over year and 29% from Q2, including 481,166 Model 3 and Model Y units.
• Production totaled 447,450, leaving deliveries roughly 50,000 above output and reducing inventory accumulated earlier in the year.
• The total beat Wall Street forecasts of about 443,000–456,000, though the stock fell after the report as investors questioned sustainability without subsidies.
• The $7,500 federal EV buyer credit expired on September 30, prompting a U.S. rush that lifted sales, with analysts warning of softer Q4 and year-to-date volumes still lagging 2024.
• Tesla is emphasizing autonomy and robotaxis, expanding testing with permits in Arizona and Nevada, and investors will vote on November 6 on a proposed $1 trillion pay package for Elon Musk.