Electric vehicle sales in the U.S. surged last month as consumers rushed to take advantage of the federal EV tax credit before it expired. Meanwhile, Tesla’s sales in Europe have plummeted, but this hasn’t significantly impacted the company’s stock price, which remains resilient. In Q3, Tesla reported record-high deliveries of 497,099 vehicles, a 7.4% increase over the previous year. Despite the impressive sales numbers, the outlook for Tesla’s sales in the coming quarters appears challenging, with the company facing tough comparisons and a decline in the federal tax credit in the U.S. European sales are also struggling, with significant drops in several key markets.

Tesla’s U.S. sales received a boost in Q3 due to the elimination of the $7,500 electric vehicle tax credit, resulting in higher-than-expected deliveries. However, sales in other major markets like China and Europe have declined. While Tesla’s competitors have seen substantial increases in EV sales, Tesla’s modest sales growth suggests that the company may face challenges in maintaining its momentum. Despite these sales struggles, Tesla’s stock price has remained relatively stable, indicating that investors may be more focused on the company’s long-term vision rather than its current sales figures.

Read more at Nasdaq: Does Tesla’s Surprise Delivery Surge Mean Its Sales Slump Is Over?