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As anticipated, Tesla had an enormous quarter of gross sales within the third quarter. With the US EV tax credit score being phased out, many consumers rushed to get their Teslas whereas they may profit from the monetary subsidy. Some headlines have cheered Tesla’s document quarter, however I’ve to confess that the numbers are genuinely not so good as I anticipated. They’re extra of an indication for fear than the rest, in my humble opinion.
All through the day, we’ve been writing in regards to the monumental year-over-year EV gross sales development at totally different manufacturers. Volkswagen logged 231% development within the third quarter, Cadillac’s EV gross sales grew 146% in the identical time, Chevrolet EV gross sales grew 86%, the Hyundai IONIQ 5 grew 90%, and the Ford Mustang Mach-E grew 51%. There are some caveats with Tesla — it was already ranging from a really excessive base, and we have now solely its world numbers, not US numbers (although, that’s on Tesla for not being prepared to share numbers by area). Nonetheless, its gross sales had been up solely 7.4% yr over yr.
And right here’s the large kicker: That document supply whole the corporate logged? It was solely 0.3% larger than the earlier document, set in This autumn 2024. So, even with the presumably huge US gross sales surge, the corporate barely beat its gross sales document (497,099 deliveries versus 495,570 deliveries). That’s not an amazing signal for the approaching quarters.
Some persons are nonetheless very bullish on Tesla, and a few even assume the third quarter was an amazing quarter. I’ve a tough time even entertaining that risk. The corporate must have one thing like a breakthrough to present me the sense that huge development is coming once more, or any development. We’ll see. Maybe there are certainly some notable surprises across the nook.
To wrap up, beneath are numerous Tesla quarterly gross sales charts and cumulative gross sales charts. For each, there’s an interactive model after which a static model, till the final one — for which there’s simply an interactive model.
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