Record 3Q Deliveries & Strong Energy Production Can't Lift TSLA Stock

Core Viewpoint - Tesla experienced a significant stock rally of over 30% in September, driven by Elon Musk's $1 billion stock purchase and a surge in vehicle deliveries before the expiration of the $7,500 electric vehicle tax credit [1][2]. Delivery and Production Numbers - Tesla achieved a record third quarter with deliveries of 497,099 vehicles, exceeding expectations of approximately 447,000 by about 50,000 vehicles [2][3]. - The company produced 447,450 vehicles during the quarter, marking a 7% year-over-year increase in deliveries, although production saw a decline compared to Q3 2024 [4]. Energy Business Performance - Tesla's energy business also reported record deployment numbers, with 12.5 gigawatt hours of storage products deployed, including mega pack and mega block systems [6][7]. Analyst Insights - Analyst Dan Ives noted that Tesla had a strong bounce-back quarter, despite benefiting from the now-expired tax credit, and expressed optimism about future performance in China and Europe [10][11]. - Ives highlighted that Tesla's self-driving ambitions are a significant factor in his high price target of $600 for the stock [12].