Overview

• Tesla reported strong third-quarter deliveries as customers accelerated purchases ahead of the tax-rebate deadline.
• Steve Westly projected about 465,000 Q3 deliveries and said the key question is how demand holds in Q4 without incentives.
• CFRA’s Garrett Nelson said he sees no upside over the next 12 months, citing a potential post-credit sales drop and diminishing regulatory-credit profits.
• Westly said Tesla needs lower-cost vehicles, new markets, and additional approvals for full self-driving as EV competition intensifies.
• In recent context, Tesla’s California sales fell about 12% year over year in 2024, while investors also noted a limited robotaxi rollout in Austin, a global Model Y refresh, and plans to unveil new mass‑market models next quarter.