Tesla’s deliveries fell less than expected in the third quarter, as a recovery in European sales helped offset softening demand for electric vehicles in the US. The US carmaker delivered 486,532 vehicles in the three months to the end of September, above analysts’ forecasts of 461,974 but down 2 per cent from 497,099 in the same period last year. Shares in Tesla rose nearly 4 per cent on Friday.
Tesla’s US sales have been suffering after President Donald Trump ended a $7,500 tax credit for EV purchases and cancelled federal emissions trading schemes. The carmaker’s sales hit a record in the third quarter of last year as US consumers rushed to buy EVs ahead of the expiry of the tax credits. Quarterly sales in the US were likely to have fallen 31 per cent year on year to 123,880 vehicles, according to estimates by Cox Automotive.
Rising fuel prices have helped lift demand for EVs elsewhere, with sales in Europe continuing to recover following a consumer backlash against Tesla chief executive Elon Musk’s political activism last year. New registrations in the UK and the EU increased 43 per cent year on year to 191,787 vehicles during the first eight months of 2026. Still, Tesla has faced intense competition from BYD and other Chinese manufacturers.
In a filing this week, Tesla said it had secured $30bn of new credit lines as Musk prepares to pivot the group from EV manufacturing to focus on autonomous driving, robotics and AI. In January, Musk discontinued Tesla’s premium S and SUV X models as the group shifted to the development of the Cybercab and a humanoid robot called Optimus.
Source: Financial Times Companies · Summarized by HeadlinesBriefing