Tesla sales hit a record 497,099 vehicles in Q3 as buyers rushed before the U.S. tax credit expired according to reports. Despite the surge, experts warn the gains may not last amid rising competition.
Tesla’s third-quarter global sales jumped 29% from the previous quarter and 7% year-over-year, marking the first year-over-year gain in 2025. The spike came as American buyers raced to secure a $7,500 federal EV (electric vehicles) tax credit before it expired on 30 September.
CEO Elon Musk briefly saw his net worth top $500 billion, making him the first person to surpass the half-trillion-dollar mark, though shares later dipped, reducing his net worth to $490 billion.
Tesla does not break down regional sales, but other automakers also reported record U.S. EV sales in Q3. GM more than doubled its EV sales, Ford saw a 30% rise, and Hyundai’s sales doubled, though it cut prices on its IONIQ 5 EV model. Analysts expect further price adjustments as competition grows.
Despite the quarterly boost, Tesla’s year-to-date sales are down 6% from 2024, and the company faces mounting competition globally. Chinese automaker BYD’s EV passenger car sales rose 31% in Q3, giving it a total of 1.6 million units this year, surpassing Tesla’s 1.2 million. BYD is positioned to become the world’s largest EV maker, even without U.S. sales.
Experts say Tesla’s challenges come from political backlash against Musk, growing Chinese competition in Europe, and an increasingly crowded EV market.
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Prime Minister Benjamin Netanyahu held a joint conference call on Sunday night from Florida with entrepreneur Elon Musk, Transportation Minister Miri Regev and Head of the National AI Directorate Erez Eskel.
Tesla CEO Elon Musk has become the world’s richest individual, with a net worth of US$749 billion, after the Delaware Supreme Court reinstated $139 billion in stock options that were voided last year, according to Forbes’ billionaires index.
Wall Street closed sharply lower on Thursday, dragged down by steep losses in Nvidia, Tesla, and other artificial-intelligence heavyweights, as investors dialed back expectations for further Federal Reserve interest-rate cuts amid renewed inflation concerns and mixed signals from policymakers.
Winter weather has brought air travel in the German capital to a complete halt, stranding thousands of passengers as severe icing conditions make runways and aircraft unsafe for operation and force authorities to shut down one of Europe’s key transport hubs.
Storm Leonardo hit Spain and Portugal on Tuesday, forcing more than 11,000 people from their homes, as a man in Portugal died after his car was swept away by floodwaters and a second body was found in Malaga.
An attacker opened fire at the gates of a Shiite Muslim mosque in Islamabad on Friday before detonating a suicide bomb that killed at least 31 people in the deadliest assault of its kind in the capital in more than a decade.
Ukraine and Russia carried out a rare exchange of 314 prisoners on Thursday as U.S.-brokered talks in Abu Dhabi closed with a pledge to resume negotiations soon, offering one of the clearest signs of diplomatic movement in months.
The United States and Iran are set to hold nuclear talks in Oman on Friday after Tehran requested a change of venue and a strictly bilateral, nuclear-focused format, a move that is fuelling questions about Iran’s negotiating strategy.
Wall Street ended sharply lower on Tuesday as investors worried about artificial intelligence (AI) creating more competition for software makers, keeping them on edge ahead of quarterly reports from Alphabet and Amazon later this week.
U.S. stock markets finished mixed on Wednesday (28 January) as investors reacted calmly after the Federal Reserve left interest rates unchanged, a decision that had been widely expected and largely priced in.
The S&P 500 edged to a record closing high on Tuesday, marking its fifth consecutive day of gains, as strong advances in technology stocks offset a sharp selloff in healthcare shares and a mixed batch of corporate earnings.
Chevron is in talks with Iraq’s oil ministry over potential changes to the commercial framework governing the West Qurna 2 oilfield, one of the world’s largest producing assets, after Baghdad nationalised the field earlier this month following U.S. sanctions imposed on Russia’s Lukoil.
Argentina's economic activity shrunk 0.3% in November compared with the same month last year, marking the first monthly contraction of 2025, data from Argentina's national statistics agency showed on Wednesday.
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