Tesla has just announced its vehicle production and delivery numbers for the third quarter of 2025, and at least partly thanks to the tax credit, Tesla has achieved a record quarter, surpassing most analyst expectations.
Tesla announced that it delivered 497,099 vehicles, up more than 100,000 vehicles from the previous quarter, which saw Tesla deliver 374,122 vehicles.
Tesla’s results also beat the Wall Street analyst consensus of 447,000 vehicles by a considerable margin.
The Numbers Breakdown
The Q3 delivery figure is a record for Tesla, being just 3,000 vehicles shy of putting 500,000 new Teslas on the road. A year ago (Q3 2024), Tesla delivered 462,890 vehicles, which had been their best quarter ever, until this morning. This new quarter saw Tesla deliver 35,000 more vehicles than their previous best.
Here are the complete numbers below, along with their comparison to last quarter and year-over-year (YoY). If you’re on mobile, you’ll have to scroll right to see previous quarters.
Delivery & Production Numbers
Q3 2025 | Q2 2025 | Q3 2024 | |
|---|---|---|---|
Delivery Numbers | |||
Model 3/Y | 481,166 | 373,728 | 439,975 |
Other Models | 15,933 | 10,394 | 22,915 |
Total | 497,099 | 384,122 | 462,890 |
Production Numbers | |||
Model 3/Y | 435,826 | 396,835 | 443,668 |
Other Models | 11,624 | 13,409 | 26,128 |
Total | 447,450 | 410,244 | 469,796 |
While Tesla set a record for deliveries this quarter, production numbers weren’t as high as they were a year ago. Tesla also continues to see a general downward trend in their Model S, Model X, and Cybertruck production numbers. While these models were actually up in terms of deliveries from last quarter, they were not as high as a year ago.
Tax Credit Supercharge
While the numbers are impressive on their own, they were undeniably supercharged by a massive, last-minute push in the United States. The end of the quarter coincided with the expiration of the US Federal EV tax credit at midnight on September 30th. This created a vast, last-minute demand for vehicles, as thousands of customers rushed to place orders to secure the $7,500 incentive before it vanished.
Tesla leaned into this deadline, most notably with the dramatic US launch of the new Model Y Performance just hours before the cutoff, creating a frantic but successful final push to close out the quarter.
Q3 Earnings Call
In its press release, Tesla also announced that its earnings call will be held on October 22nd at 2:30 p.m. Pacific Time. The Q&A session during this call typically reveals a lot about Tesla’s upcoming products and FSD. Last quarter, Tesla talked about the HW3 upgrade, FSD Unsupervised, AI5, and its upcoming model.
Looking Ahead to Q4
The end-of-quarter rush also has significant implications for the fourth quarter. While many orders were placed in Q3 to qualify for the credit, the actual vehicle deliveries for these sales will occur in October and November. Buyers only had to place their order by the deadline, and not actually take delivery of the vehicle to qualify for the tax credit.
This carry-over effect will provide a strong head-start for Q4’s delivery numbers, but it remains to be seen just how much demand was pulled into Q4 from Q3 orders.
With the new Model Y Performance now shipping in the US and the continued ramp-up of multiple vehicles, such as the upcoming, more affordable model, Tesla has several catalysts as it heads into the final stretch of the year.
The key question will be whether there will be sufficient organic demand for these new products for Tesla to sustain these improved numbers, even without the help of the tax credit.
