Tesla sales jump 7% amid rush for electric vehicles
Tesla electric vehicle sales jumped in the last quarter, while buyers rushed to take advantage of an expired federal tax credit.
Sales of electric vehicles of the company increased by 7% in the three months until September compared to a year earlier, reflecting an increase in overall sales of electric vehicles across the country.
The $ 7,500 credit for new electric vehicles was eliminated on September 30 by the Trump administration.
In July, national sales of new electric vehicles jumped 19% compared to a year earlier, according to Cox Automotive. The same month in Orange County, 32% of new vehicles sold were fully electric, compared to 21% in May.
The sales boost could mark the start of a rebound for Tesla, who had trouble this year with a drop in sales and damage to her brand. The quarterly increase marks the first sales from year to year that the company saw in three quarters.
Tesla delivered 497,099 vehicles in the third quarter, up 29%, against 384,122 deliveries during the previous quarter. During the same period of last year, the company delivered 462,890 vehicles.
The company was faced with opposite winds, including the saturation of the electric vehicle market in California and the automotive prices imposed by the federal government which make cars and parts more expensive.
The foray for Elon Musk chief executive in politics as head of the Government Ministry of Efficiency has also alienated many potential buyers from Tesla and led to boycotting and protesting against Tesla dealers.
Despite the increase in sales, Tesla shares dropped by more than 3% in exchanges on Thursday. Sales of electric vehicles should fall this month after the expiration of the tax credit.
“It was a large rebound district for Tesla to lay the basics of deliveries in the future, but there is still work to be done to win land,” said Wedbush and Tesla Bull Dan Ives analyst in a note.
Tesla was not the only brand to benefit from the race to buy electric vehicles. Cadillac de Beverly Hills has experienced a “significant increase” of sales of electric vehicles in recent months, according to Naeim Nastar products specialist.
The former executive of Ford and digital consultant, Adrian Balfour, wrote in a note that he was “prudently optimistic” on Tesla’s reversal. Tesla deliveries had dropped 13% in the first six months of the year.
“This rebound is a first half of 2025 brutal,” wrote Balfour. “That said, it looks more like a rush to sugar than a structural turnaround. The underlying EV market remains agitated.”
Musk has increasingly betting the future of Tesla on its autonomous driving technology and its Robotaxi company. Tesla will have to determine the problems with its autonomous efforts to successfully deploy its Robotaxie across the country to make this company a real money manufacturer.
Tesla’s shares have increased by 17% so far this year and more than 34% in the last month.
