Tesla ended its latest quarter with deliveries up 7% from the year prior, wrapping the period on the same day a key federal incentive for electric-vehicle buyers expired. Gains weren’t enough to sway investors, as shares slid on Thursday. The company will provide a deeper look at its financials when it reports third-quarter earnings on October 22.
Total deliveries reached 497,099 vehicles, while factories produced 447,450. In comparison, last year’s third quarter brought 462,890 deliveries and 469,796 units built. Those numbers reflect a dip in output alongside a modest increase in customer handoffs, pointing to slightly tighter production but stronger fulfillment.
Expectations heading into the report were in line with the outcome. FactSet’s consensus landed at 447,600 deliveries, while independent researcher Troy Teslike predicted 481,000. Tesla’s own late-September forecast cited 443,000, leaving the final tally only marginally above its distributed consensus.
Tesla didn’t break down deliveries by region or model, though it confirmed that 435,826 Model 3 and Model Y vehicles were assembled during the period. These remain the backbone of Tesla’s lineup, and while deliveries are widely treated as a sales indicator, the company still avoids spelling out the exact methodology behind its count.
Performance in Europe proved a drag on results. Stiffer competition from rivals such as Volkswagen and BYD cut into market share, while Elon Musk’s outspoken political presence has drawn consumer backlash, further softening demand in a region once critical to Tesla’s momentum.
Sales in the U.S. provided a counterweight. Many buyers rushed to close deals ahead of the July expiration of a federal tax break, included in President Donald Trump’s most recent spending plan. That rush created a short-term boost that offset weaker international numbers.
Ford also delivered progress, reporting a 30.2% jump in EV sales for the quarter with more than 30,600 units moved. While that marked a record for Ford, the figure underscored how Tesla still commands a far larger footprint in the electric market.
Shares reflected Tesla’s rebound. After a rocky start to 2025, stock climbed 40% during the third quarter, pulling year-to-date performance back into positive territory. By Wednesday’s close, Tesla was up 14% on the year, though still trailing the Nasdaq Composite’s 18% rise.
Troubles earlier in the year remain notable. Second-quarter deliveries fell to 384,122, a 14% drop compared to the prior year and the second straight quarterly decline. The latest figures helped ease those concerns, signaling a firmer footing heading into the final months of 2025.
Energy operations added a different kind of highlight. Tesla rolled out 12.5 GWh of storage systems, including its established Megapacks and the newer Megablock units. These products help utilities and businesses bank renewable energy for later use or capture cheap electricity during off-peak hours for release when demand spikes.
That division has shown steady growth. Deployments totaled 9.6 GWh in the second quarter and 6.9 GWh in last year’s third quarter. Purchases from Musk’s xAI venture have added momentum, reinforcing energy storage as a rising pillar of Tesla’s broader strategy beyond vehicles.
