Tesla reported record sales in the third quarter as U.S. buyers rushed to take advantage of a $7,500 federal tax credit before its expiration on September 30.
The automaker delivered 497,099 vehicles worldwide from July to September, a 29% increase from the prior quarter and up 7% from a year earlier. It was the company’s first year-over-year sales gain in 2025.
The surge briefly lifted Tesla shares and pushed CEO Elon Musk’s wealth above $500 billion, according to Forbes, though both retreated later in the day.
Elon Musk achieved yet another major milestone Wednesday, becoming the first ever person worth $500 billion. Musk, who became the first person ever worth $400 billion or more in December, is $150 billion ahead of runner-up Larry Ellison—and half-way to becoming the world’s first… pic.twitter.com/h9LJmAvT7F
— Forbes (@Forbes) October 1, 2025
Analysts warn the boost may not last, as the tax credit—originally enacted under the Biden administration—was eliminated under President Donald Trump’s spending and tax bill.
While Tesla gained a temporary lift, rivals such as GM, Ford, and Hyundai also posted record U.S. EV sales. Chinese automaker BYD, with 1.6 million EVs sold this year, is on track to overtake Tesla globally.
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TIPP Staff
TIPP Staff
TIPP Staff
