Tesla reported 497,099 vehicle deliveries in Q3 2025, up 7% from the same period last year, though production fell to 447,450 vehicles.

Shares dipped more than 3% following the report, ahead of the company’s full financial results scheduled for Oct. 22.

The quarter was marked by weak sales in Europe due to consumer backlash against Elon Musk and stronger competition from EV makers like Volkswagen and BYD, partially offset by U.S. buyers rushing to use a federal tax credit that expired this week.

Year-to-date deliveries totaled around 1.2 million, down about 6% from the first three quarters of 2024, CNBC has reported.

Tesla produced 435,826 Model 3 and Model Y cars, while rival Ford reported a 30% increase in EV sales during the same period.