Tesla Delivers Strongest Quarter On Record Amid Shifting EV Policies And Rising Investor Focus On Future Growth

Benzinga

Tesla delivered a record 497,099 vehicles in Q3, beating expectations by over 54,000 and ending two quarters of declines. Analysts credited a rush before the federal EV tax credit expired, though shares fell despite strong results. Long-term, Tesla’s AI push into robotaxis and robotics has Wedbush projecting a $2–3 trillion valuation by 2026.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Tesla delivered 497,099 vehicles in the third quarter,

00:06beating Wall Street's 443,000 consensus by more than 54,000,

00:11marking its best quarter on record.

00:13Deliveries jumped 29% sequentially and 7.4% year-over-year,

00:17bursting two quarters of decline, according to Barron's.

00:20Analysts said the surge was partly driven by U.S. policy shifts,

00:23including the expiration of a $700 federal tax credit at the quarter's end.

00:27The shares fell 5.1% to $436 on Thursday,

00:31though the stock remains up 52% over the past three months.

00:34Tesla has delivered over 1.2 million vehicles year-to-date,

00:37down 5.9% for 2024.

00:40Analysts are now watching whether the automaker can sustain momentum

00:42without federal incentives and add-up new models

00:45like the lower-priced Model 2 and Semi-Truck.

00:48Tesla's AI expansion into robo-taxis and huido-robots

00:51can use to drive bullish long-term price targets,

00:53with WebBush projecting a possible $2-3 trillion market cap by 2026.

00:59For all things money, visit Benzinga.com.

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