Tesla has had a rough start to its financial year, with disappointing sales over the first two quarters. CEO Elon Musk's polarizing political activity contributed to the brand's slide.
However, one analyst believes Tesla's fortunes could change. According to Sherwood, Troy Teslike estimates that Tesla can sell 178,000 vehicles this quarter, up from 156,000 in Q3 of 2024, since customers may want to purchase vehicles before the U.S. government's electric vehicle incentive goes away.
The credit, which expires on Sept. 30, drove Tesla sales so high that Sherwood reported that the automaker was running out of inventory in late August.
This is great news for the struggling company. Increased sales, along with a $1 billion stock purchase from Musk, could mark a turning point for the EV maker.
"We're in this weird transition period where we will lose a lot of incentives in the US," Musk said to investors, per Sherwood.
Despite the loss of the EV incentive, Teslas and other EVs are a great choice for both potential financial savings and environmental benefits.
Installing solar panels at home can compound the savings associated with driving an EV. Fueling with at-home solar energy is cheaper than using a public charging station or relying on the grid to charge at home.
EnergySage offers a free platform to compare quotes from local, vetted solar installers and can help you save up to $10,000 on your solar installation.
Opponents to EVs often cite high pollution from activities to mine battery materials or from manufacturing facilities. However, the EPA notes that EVs are more sustainable than traditional vehicles over their life cycles.
Increased EVs on the road also leads to public health benefits, research finds. Since EVs produce no pollution while running, this means cleaner air in crowded urban areas.
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Absolutely 🇺🇲 Unfortunately, EVs face an uncertain fourth quarter of sales after the incentive ends on Sept. 30.
As Musk said, Tesla "could have a few rough quarters."
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