Tesla exceeds delivery estimates in the 3rd tri with buyers looking for tax credits

Tesla exceeds delivery estimates in the 3rd tri with buyers looking for tax credits

Tesla reported on Thursday deliveries in the third quarter that exceeded Wall Street estimates, led by an increase in purchases of electric vehicles in the United States, while consumers rushed to exploit tax credits before the deadline in September.

The car manufacturer led by Elon Musk has often dealt with the deadline, using it together with discounts and financing agreements to stimulate sales and rents from its electric vehicles.

However, the concerns about the cooling of sales in the next quarters due to the sampling of the Federal tax credit of US $ 7,500 have weighed on the actions of the company.

“Although the third quarter has been strong, we hope that the sales of the fourth quarter have decreased, in line with the first half of the year, largely due to the expiry of the US tax credit,” said Seth Goldstein, senior share analyst of Morningstar.

Europe continued to be a weak point, since rivals aggressively promoted plug-in hybrids, while Chinese brands began to gain ground.

The company’s sales in Europe, including the United Kingdom, decreased by 22.5% compared to the previous year of August, reducing its market share to 1.5%, according to data from the regional car manufacturers association.

Overall, Tesla said he has delivered 497,099 vehicles in the third quarter, with an increase of 7.4% compared to 462,890 of the previous year.

The car manufacturer will reveal its quarterly results on 22 October.

Deliveries for the entire year are designed for about 1.61 million, about 10% below 2024, according to Visible Alpha. Tesla will have to deliver 389,498 vehicles on the quarter of December to satisfy this projection.

Source: Terra

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