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Tesla vehicle deliveries spike after several quarters of decline

Electric vehicle buyers in the US are rushing to take advantage of expiring federal tax credits

Tesla’s third-quarter deliveries trounced Wall Street estimates on Thursday after several quarters of weak performance, powered by an unusual sales boost from US electric vehicle buyers rushing to lock in popular tax credits before they expire at the end of September.

Tesla said it delivered 497,099 vehicles in the third quarter, up 7.4% from 462,890 a year earlier. It also delivered 481,166 units of its Model 3 compact sedan and Model Y crossover in the September quarter, well above Wall Street expectations. The carmaker is set to report quarterly results on 22 October.

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