特斯拉三季度汽车交付量创新高，但美国补贴退坡或令下季承压

Core Viewpoint - Tesla reported a record delivery of 497,099 vehicles in Q3 2025, marking a 7.4% year-over-year increase, surpassing Wall Street's expectations of 447,600 vehicles [1] Group 1: Production and Delivery Data - In Q3 2025, Tesla produced 447,450 vehicles, which is a decrease compared to the same period last year [2] - The breakdown of deliveries includes 481,166 Model 3/Y and 15,933 other models, with a total delivery of 497,099 vehicles [3] Group 2: Market Conditions and Competition - Tesla's sales in Europe remain weak, partly due to consumer backlash against Elon Musk's controversial political stance, while competitors like Volkswagen are gaining market share [3] - In the U.S., demand was temporarily boosted by consumers rushing to purchase vehicles before the expiration of federal tax credits, which have now been terminated [3] Group 3: Financial Outlook and Future Events - Tesla is set to announce its Q3 financial results on October 22, and will hold its annual shareholder meeting next month to vote on Musk's new compensation plan, potentially valued at $1 trillion [5] - Investors are currently focusing on Tesla's growth commitments in autonomous vehicles, artificial intelligence, and robotics, despite concerns over declining vehicle sales [5]