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TeslaElectric vehicle company operated by Elon Musksaw record sales in its third quarter, though it wasn’t enough of a boost for the EV maker to avoid a sharp decline in profit.
Between July and September, Tesla More than 497,000 vehicles were sold, according to earnings data released Wednesday, representing record sales growth of 29 percent in the second quarter and seven percent year-on-year.
The analysis attributed the strong sales to demand from US customers who were racing to place orders before the $7,500 federal tax credit. E.V Ended at the end of September.
Despite strong sales, profits decreasedNet income declined 37 percent in the third quarter, as third-quarter revenue fell to $1.4 billion from $2.2 billion a year earlier.
It also marks the third quarter That profit steadily declined,
Tesla executives attributed these headwinds to declining revenues from carbon credits, tariff costand the removal of investment in research and development for artificial intelligence.
Looking ahead, Tesla told investors that the company will remove safety drivers from its robotaxis in Austin by the end of the year, and they should expect to debut the next prototype of its Optimus robot in February or March.
The company’s CyberCab autonomous vehicle is scheduled for production in the second quarter of next year.
On an investor call, Musk urged shareholders to support proposed salary package The terms, which could make the executive the world’s first billionaire, have been described as a key way to increase his control over Tesla as it continues to build advanced robotics and AI systems to integrate into its cars and manufacturing processes.
“My basic concern about how much voting control I have at Tesla is, if I build this huge robot army, could I be forced out in the future?” He Allegedly Said. “I don’t feel comfortable building that robot army if I don’t have at least a little influence over it.”
2025 has been difficult for the company, which Tesla had to face Boycott, attacks on dealershipsAnd through this came public sentiment soured in some quarters in response to Musk’s heavy, if short-lived, involvement in the Trump administration. Doge Cost cutting initiatives.