Tesla has ‘bounce back' third quarter

Core Insights - Tesla delivered over 497,000 cars last quarter, exceeding Wall Street's expectations with a 7% increase from the previous year, despite a slip in production [1][2] - The surge in deliveries was likely driven by a last-minute rush before the expiration of the $7,500 EV tax credit in September [1] - GM set a new EV sales record with 66,500 deliveries, while Ford's EV sales increased by 30% to over 30,000 units, marking a record for both companies [1][2] Industry Context - Tesla remains the dominant player in the EV market, significantly ahead of its competitors [2] - The removal of government incentives that made EVs more affordable raises questions about future demand in the upcoming quarters [2] - The next few quarters will be critical in assessing whether demand for EVs can sustain without the additional government push [2]