Tesla Surpasses Expectations with Q3 Delivery Surge

Tesla's third-quarter vehicle deliveries exceeded analysts' expectations on Thursday, driven by a surge in demand for electric vehicles in the U.S. as consumers raced to benefit from an expiring federal tax credit.

The automotive giant reported delivering 497,099 vehicles between July and September, representing a 7.4% increase from the previous year's figure of 462,890 vehicles. This performance surpassed the 443,919 vehicle deliveries predicted by analysts, according to data from Visible Alpha.

Despite experiencing a downturn in demand for its vehicles in Europe, the uptick in U.S. sales was sufficient to offset such declines, highlighting the influence of tax incentives on consumer demand in the EV market.

(With inputs from agencies.)