"Tesla sales have surged in the third quarter as buyers in the United States rushed to take advantage of electric vehicle (EV) tax credits that were eliminated under President Donald Trump's sweeping tax bill passed this year. On Thursday, the automaker reported a 7.4 percent increase in sales compared with the same period last year as demand was driven by customers looking to buy before the credits officially expired at the end of September."
"Sales jumped to 497,099 cars for the quarter, compared with 462,890 in the third quarter last year. Tesla also delivered 481,166 units of its Model 3 compact sedan and Model Y crossover in the quarter, well above Wall Street expectations. The Elon Musk-led carmaker frequently talked up the expiry of the tax credits, using it alongside discounts and financing deals to spur sales and leases of its EVs."
Tesla posted a 7.4 percent increase in third-quarter sales as buyers rushed to claim U.S. electric vehicle tax credits before expiry, with quarter deliveries rising to 497,099 from 462,890 a year earlier. The company delivered 481,166 Model 3 and Model Y units, surpassing Wall Street expectations. Tesla promoted credit expiry alongside discounts and financing to accelerate sales and leases. Investors anticipate a post-September slump now that the $7,500 federal credit has expired, and analysts expect fourth-quarter declines. Full-year deliveries are projected at 1.61 million, requiring 389,498 fourth-quarter vehicles to meet that forecast. China saw the launch of a six-seat Model Y L.
Read at www.aljazeera.com
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