Tesla set for strong quarter fueled by rush to get expiring US EV tax credits

Tesla set for strong quarter fueled by rush to get expiring US EV tax credits
Tesla is gearing up to report a strong third quarter, driven by a surge in U.S. EV sales ahead of the expiration of the $7,500 federal tax credit. CEO Elon Musk faces mounting investor questions about the future of Tesla’s margins and the global rollout of its new, cheaper Model 3 and Model Y variants. These new “Standard” versions are around $5,000 cheaper but come with smaller batteries and fewer features. Analysts expect Tesla’s Q3 revenue to reach $26.24 billion, up 4.2% from last year, while gross margins could dip to 15.6%, down from 17% last year due to aggressive price cuts. Musk is also expected to provide updates on Tesla’s Robotaxi program, which he claims could reach half of the U.S. population by the end of the year. Despite falling sales of older models and rising competition, Tesla’s market value—at over $1.4 trillion—continues to rely heavily on Musk’s bold bets on AI and autonomous driving technology.
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