American electric vehicle (EV) maker Tesla has staged a big turnaround by posting its best-ever quarterly production and delivery figures, with 447,450 vehicles manufactured and 497,077 cars delivered to customers globally between July and September – each latest benchmarks for the brand.
The spike comes after the brand posted its largest quarterly sales decline in over a decade through the previous reporting period.
So on the identical day that Tesla CEO Elon Musk was declared the world’s first ‘half trillionaire’ – meaning his net value is greater than $US500 billion ($A758bn) – the automaker reported record quarterly sales of nearly half one million vehicles.
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This was partially due to strong sales leads to Australia for the updated Model Y, which was the third-best selling model outright – behind only the Toyota HiLux and Ford Ranger – in September.
Third-quarter sales within the US were buoyed by the September 30 cut-off for the federal government’s $7500 EV tax credit, with deliveries for the three-month period up by 7.0 per cent on the identical period last 12 months.
EV sales across the US surged 22 per cent within the quarter – largely believed to be on account of news of the EV tax credit ending, which was announced as a part of a federal bill brought into law on July 4.
Based on Cox Automotive, EVs accounted for a record 10.0 per cent of recent vehicle sales within the US last quarter, only marginally lower than the 11.3 per cent share achieved in Australia last month, which was also a record.
The strong results come after a volatile begin to 2025, with Tesla sales slumping world wide as Mr Musk carried out his Department of Government Efficiency (DOGE) role at The White House after president Trump’s January inauguration.
While that role led to May, Tesla sales dropped dramatically in Europe over several consecutive months, with the brand also suffering slower sales within the US and Australia.
While there have been calls from some employees for Mr Musk’s removal, the Tesla board remained steadfast in its public support of the CEO, pointing to model changeovers as a think about slower sales.
It has since offered Mr Musk a record US$1 trillion ($A1.5tn) remuneration package in a 10-year deal.
Despite the turnaround within the US and Australia – where a mid-year recovery included its best sales in a 12 months in June – Tesla saw a 43 per cent sales slide in Europe in the primary eight months of 2025, despite EV sales rising by 25 per cent there.
This Article First Appeared At www.carexpert.com.au
