The sales of Electric vehicles from Tesla jumped the last quarter, since the buyers rushed to take advantage of a federal tax expired.
EV Sales of the company increased 7% in the three months until September compared to the previous year, reflecting an increase in general sales of EVs throughout 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 EVs increased by 19% compared to the previous year, according to Cox Automotive. That same month in Orange County, 32% of new vehicles sold were fully electric, compared to 21% in May.
The sales impulse could mark the beginning of a rebound for Tesla, which has fought this year with the decrease in sales and damage to its brand. The quarterly increase marks the first sales increase year after year that the company has seen in three quarters.
Tesla delivered 497,099 vehicles in the third quarter, 29% more than 384,122 deliveries in the previous quarter. In the same period last year, the company delivered 462,890 vehicles.
The company has faced winds against, including saturation of the EV market in California and automotive rates imposed by the federal government that make cars and parts more expensive.
The incursion of executive president Elon Musk in politics as head of the Government's efficiency department also alienated many potential buyers of Tesla and led to boycott and protests in the Tesla dealers.
Despite the increase in sales, Tesla shares fell more than 3% in Thursday's negotiation. EV sales are expected to fall this month after the expiration of the tax credit.
“This was a great trimester of rebounds so that Tesla feels the foundations for deliveries in the future, but there is still a job to do more land,” said Wedbush and Tesla Bull Dan Iives analyst in a note.
Tesla was not the only brand that benefited from the fight to buy EV. Beverly Hills Cadillac saw a “significant increase” in EV sales in recent months, according to Naeim Nastar products.
Ford's former executive and digital consultant, Adrian Balfour, wrote in a note that he was “cautiously optimistic” about the change of Tesla. Tesla deliveries had fallen 13% in the first six months of the year.
“This rebound fits a first half of 2025,” Balfour wrote. “That said, this feels more like a sugar race than a structural change. The underlying EV market is still broken.”
Musk has increasingly bet the future of Tesla for its autonomous driving technology and its Robotaxi company. Tesla will have to solve the problems with their autonomous driving efforts to successfully deploy its robotaxis throughout the country to make that business a real money creator.
Tesla shares have increased by 17% so far this year and more than 34% during the past month.
