Tesla delivered a record 497,099 vehicles in Q3, beating estimates of 439,800 and surpassing last year’s 462,890. The surge was likely fueled by the expiring $7,500 federal EV tax credit in the U.S. Production totaled 447,450, while energy storage deployments hit a record 12.5 gigawatt-hours. Shares fell over 5% Thursday as rival Rivian’s weak forecast underscored post-subsidy uncertainty. Analysts warned demand and profitability could face pressure without incentives. CEO Elon Musk flagged “a few rough quarters” ahead as cheaper models remain delayed. Tesla continues to struggle in Europe, where August registrations fell 22.5% even as regional EV sales jumped nearly 27%. Full Q3 results will be reported October 22.