Tesla beats expectations with 497,000 Q3 deliveries, up 7% despite Europe slump

Abiola Olawale
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By Obinna Uballa

Tesla delivered 497,099 vehicles in the third quarter of 2025, surpassing Wall Street forecasts and marking a 7% increase from the same period last year, even as production slipped and European sales faltered.

The Elon Musk-led EV maker produced 447,450 vehicles in the quarter, down from 469,796 a year ago, but still outpaced analysts’ estimates of about 447,600 deliveries, according to FactSet. Independent tracker Troy Teslike had projected 481,000 deliveries, while Tesla’s own consensus put expectations at 443,079.

Shares climbed just over 1% after the update, extending a 40% rally in the third quarter that has pushed Tesla’s stock into positive territory for the year. As of Wednesday’s close, Tesla shares are up 14% year-to-date, compared with an 18% gain for the Nasdaq, CNBC reported.

Tesla said it built 435,826 of its mass-market Model 3 and Model Y vehicles during the quarter, though it does not break down deliveries by model or geography. Deliveries remain the closest proxy for sales, though the company does not strictly define the metric.

The quarter was shaped by contrasting dynamics: a continuing slump in Europe, where competition from Volkswagen and BYD is intensifying and Musk’s political activism has sparked consumer backlash; and a sales boost in the U.S., where buyers rushed to beat the expiration of a federal tax credit that ended under President Donald Trump’s July spending bill.

By comparison, Ford reported this week that it sold more than 30,600 electric vehicles in Q3, said to be a record for the Detroit automaker but still well behind Tesla.

Tesla’s energy business also posted gains, with the company deploying 12.5 GWh of storage products, including Megapack and the new Megablock systems, up from 9.6 GWh in the second quarter and 6.9 GWh a year ago. Musk’s AI startup, xAI, has been a major buyer of these large-scale batteries.

Tesla will report full financial results for the quarter on October 22.

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