Tesla Smashes Records With 497,000 Vehicles Sold in Q3
Tesla has shattered its previous records with a remarkable performance in the third quarter. The electric vehicle (EV) giant sold 497,000 vehicles, surpassing analysts' expectations and driving its tesla stock up by over 3%.
The quarter saw a significant increase from last year's 463,000 vehicles. This surge can be attributed to US customers rushing to buy ahead of the expiration of the federal tax credit for EVs. Tesla delivered 34,000 more vehicles than analysts had predicted, with FactSet estimating 447,000 and Tesla enthusiast Troy Teslike predicting 481,000.
Tesla's stock reflected the positive news, trading more than 3% higher as of 9:05 a.m. ET. This strong performance comes on the heels of the company's best month since the US presidential election.
Tesla's record-breaking third quarter, with 497,000 vehicles sold, has exceeded expectations and boosted its tesla stock. The rush by US customers to beat the tax credit expiration has driven this impressive result, which also marks a record for EV sales across the stock market.
