(Reuters) -Tesla's third-quarter deliveries beat analysts' estimates on Thursday as a rush to buy EVs in the U.S. before the expiry of a popular tax credit more than offset slumping demand for its vehicles in Europe.
Shares of the Austin, Texas-based automaker were up 3% in premarket trading.
The company for months has been talking up the expiry of the $7,500 federal credit on September 30 as a reason for a potential sales boost. It has been offering financing deals and discounts to spur sales and using
the tax credit to offer attractive lease prices.
In China, Tesla began delivering the long-wheelbase, six-seat Model Y L in September, a family-focused variant that was expected to spur demand in the world's largest EV market.
Europe, however, remained a weak spot. In August, Tesla sales in Europe and the UK fell 22.5% from a year earlier, cutting its market share to 1.5%, according to data from the European Automobile Manufacturers' Association, as rivals leaned into plug-in hybrids and Chinese brands gained ground.
Full-year 2025 deliveries are projected around 1.61 million, roughly 10% below 2024, according to Visible Alpha.
Tesla is also piloting a supervised robotaxi service with safety monitors and limited operating areas, launched in Austin in June. The trial has drawn interest and regulatory scrutiny, but any near-term financial impact is expected to be limited.
The company said it delivered 497,099 vehicles in the third quarter, up 7.4% from 462,890 a year ago. Analysts expected about 443,919 vehicles for the July–September period, according to Visible Alpha estimates.
(Reporting by Akash Sriram in Bengaluru; Editing by Anil D'Silva)
