Tesla’s Surprise Q3 2025 Delivery Surge: How a Tax‑Credit Rush Made EV History and Shook Up the Competition
Tesla’s Q3 2025 Performance in Context Production and Deliveries The Q3 2025 delivery report shows a dramatic turnaround for Tesla. After declining deliveries in Q1 (336,681 vehicles) and Q2 (384,122) nasdaq.com, the company delivered 497,099 vehicles, smashing its prior record of roughly 463,000 from Q3 2024 businesswire.com. Tesla produced 447,450 vehicles, meaning it drew down inventory by more than 49,000 units and reduced days‑supply. This reversal indicates Tesla intentionally built up inventory in previous quarters to prepare for the end‑of‑quarter tax‑credit rush. Notably, only 2 % of Q3 deliveries were under operating leases businesswire.com, suggesting most customers purchased outright or financed through loans. Model‑Level