Newsletter
Tesla had a good Friday after reporting better-than-expected third-quarter sales.
It delivered 486,532 vehicles between July and September, beating the average analyst estimate of 463,761, compiled by Bloomberg.
What’s driving demand: higher petrol prices linked to the US-Iran war have made electric vehicles more appealing. Analysts say Tesla may also be benefiting as major US carmakers scale back their EV plans.
The figures cover global deliveries, with no separate breakdown for the US. Sales were still about 2% lower than a year earlier, when Tesla delivered a record 497,099 vehicles as US buyers rushed to purchase before federal incentives ended.
Even so, Wall Street expects sales to grow modestly this year after two straight annual declines.
The bigger picture: the results suggest Tesla’s car business may be picking up, even as investors focus increasingly on Elon Musk’s plans for AI, robotaxis and humanoid robots.
Next bet: Tesla plans to spend more than $25 billion this year on its factories and robotaxi business. In a filing this week, it said it had secured $30 billion in new loans and credit lines to support its growth.
