"The electric vehicle maker run by Musk reported Thursday that car sales jumped 7% in the three months through September after plunging for most of the year as people turned off by his embrace of President Donald Trump and far-right politicians in Europe balked at buying his cars. But the jump comes with a caveat: Tesla benefited from consumers taking advantage of a $7,500 tax credit before it expired on Sept. 30, a surge in buying that helped all EV makers."
"Tesla stock rose sharply on the sales news, but closed the day down 4.5% to $439 amid skepticism the new number really signals a turnaround given all the anti-Musk backlash. "I don't think most people are any more enamored with Elon now than they were a few months ago," said Telemetry Insight's Sam Abuelsamid. "I expect this is more a blip for Tesla than the restart of growth.""
Tesla reported a 7% increase in vehicle sales in the three months through September, rising to 497,099 from 462,890 a year earlier. The increase coincided with an expiring $7,500 federal tax credit that spurred purchases before it ended Sept. 30, a factor that benefited many electric-vehicle makers. Competitors like Rivian saw larger gains, with a 32% increase. Tesla stock initially rose on the sales news but closed down 4.5% to $439 amid skepticism about sustainable demand. Analysts cautioned the spike may be temporary and driven by the tax-credit deadline rather than renewed consumer embrace.
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