Tesla’s Q3 2025 update reports record vehicle deliveries and record energy storage deployments, alongside higher revenue, but earnings pressure persisted due to margin headwinds and a likely pull-forward of demand before U.S. EV tax credits expired in September.

Shares dipped about 1.4% in after-hours trading as investors appeared to brace for softer demand through the remainder of the year.

CEO Elon Musk is expected to give more detail on the company’s quarterly earnings call at 5:30 p.m. Eastern time.

Q3 results

Tesla delivered 497,099 vehicles in Q3 2025, a new quarterly record, with total production at 447,450 units, reflecting inventory drawdown to meet demand surge before tax credit expiry.

Management materials and coverage indicate revenue reached about $28.1 billion, exceedi

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