As Other EV Makers Regroup, Tesla Surges, Boosted By Loyal Customers – CleanTechnica

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I’m having my first Tesla mobile service visit this week. Up until now, my long range 2022 Tesla Model Y has needed no maintenance at all. A message recommending a new 12-volt battery has been flashing on my dash, though.** Anytime I needed a repair on one of my prior vehicles in years past, it made my mind wander: “Is it time to trade-in and buy a new vehicle?” With the need for maintenance, I have asked myself, “Would I buy another Tesla?” The answer is “Yes, I would buy another Tesla, even with the embarrassing behavior of CEO Elon Musk.” And I understand I’m not alone. Even as many other automakers announce retooling their EV factories or reveal losses in their EV divisions, Tesla surges, supported by existing owners like me who can’t envision buying another EV brand.

Tesla Valuation Stays Steady

The Q3 2025 results report will take place next week on October 22 after the closing bell.

Tesla (NASDAQ: TSLA) ended the week at $439.31 share, extending a consistent climb to more than 6% this year and 95% over the past 12 months. Does Wall Street strength indicate that Tesla might exceed what had been cautious forecasts for Q3 2025? Once-dour Tesla analyst expressions seem to be slightly revised, with some projecting Tesla will report third-quarter earnings per share of $0.54, down from $0.72 a year earlier.

Tesla delivered 497,099 cars (481,166 Model 3/Y and 15,933 other models) worldwide in the third quarter, setting a new record. The figure rose 7.4% from the year-ago quarter, after three consecutive quarters of year-over-year decline.

How will the new, basic Tesla Model Y and Model 3 versions stabilize numbers? Tesla has finally begun to appeal to a less affluent audience by introducing new so-called Standard versions of the Model 3 sedan and Model Y SUV priced $5,000–$5,500 less than before.

Tesla continues to be the best selling EVs in the US market, estimated at 43.1% at the end of September. Yes, those numbers are down from 49% Y2Y. The EV competition is knocking at the Austin door, shrinking Tesla’s share of the EV pie to 41% from 80% four years ago. BloombergNEF expects at least nine new electric cars and trucks priced below $40,000 in the next three years.

US residents bought 438,500 electric cars and trucks in the third quarter, as drivers raced to grab federal incentives before they expired September 30. Those sales became the highest number of EVs sold in a single quarter, amounting to 11% of all new car sales and beating the previous high point of 8.7%, according to Cox Automotive. It’s also interesting to note that nearly half of US EV purchases in the first half of the year were made without any federal incentive.

The federal tax credits did help rejuvenate Tesla. Its overall financial health equation continues to be fortified by strong brand loyalty. With earlier quarters on a roller coaster, it hasn’t hurt that Musk recently added about $1 billion worth of Tesla stock.

Tesla is positioned to look to its increasing energy generation and storage revenues as sustaining factors. The Megapack and Powerwall products continue to grow in popularity. In the third quarter of 2025, Tesla deployed 12.5 GWh of energy storage, reflecting an increase from 6.9 GWh in the corresponding quarter of 2024 and setting a new record.

But, on the less optimistic side, did a consumer rush to cash in on the credits artificially inflate Tesla value in Q3? Loss of EV federal tax incentives may have an effect on the upcoming quarter’s bottom line — the Tesla Q4 2025 report may look very different. The stock is up more than 7% for the year, but some analysts interpret that as a fleeting moment in time. Pessimists see Q4 with a stark Tesla revenue drop, which will feed into 2025 becoming the company’s first full-year decline on record.

One downward trend is Tesla’s lukewarm performance abroad. While Tesla doesn’t officially break down sales by region, as Yahoo! finance notes, the third-quarter jump is likely to have come from the US. In Europe, however, the company’s performance is flaccid, with demand on the rise from both legacy automakers and Chinese EV players.

Tesla shares did fall early in the year due to brand competition, but Musk’s boorish behavior had the most significant detrimental effect. Clearly, siding with anti-EV Trump, his DOGE damage to federal careers and alleged data theft, and his outspoken support of Germany’s AfD party pushed Tesla stock to new lows.

The market for used EVs is also booming and could become an offsetting factor in new EV sales.

Musk’s Pay Package: Back in the Courts

This week the Delaware Supreme Court heard another iteration of arguments about Musk’s record-setting pay package. The saga began in 2018. In lieu of a salary, Tesla gave Musk incentives to help the company grow and prosper at the rate of 10× that year’s valuation. Tesla states that Musk, indeed, met those goals in 2022.

But not everyone was impressed. The Tesla board of directors was accused of violating their fiduciary duty to act in the best interests of shareholders and the company overall. With so much board influence, the thought was that the board couldn’t objectively analyze Musk’s actual performance. A lack of alleged board transparency about informing shareholders also fed into the case, with various board members’ personal ties to Musk not fully revealed.

Institutional Shareholder Services (ISS) has recommended that Tesla investors vote against Musk’s colossal pay package, describing it as ‘excessive’ and insufficiently tied to safeguards for shareholders.

Judge Kathaleen McCormick determined that the amount to be awarded Musk was an “unfathomable sum,” and she instructed Tesla to rethink the compensation package. Shareholders in 2024 didn’t listen and passed it again. The volley back to McCormick didn’t work out as shareholders wished, as she rejected that vote, too. A new vote, she stated, wasn’t what she asked for: developing a new plan.

Now it’s up to Delaware’s State Supreme Court. Could it be construed that Musk influenced the board but did not control it?

Tesla’s board of directors now has a new, future compensation package on the table for Musk. Hear ye, hear ye: all bow to the world’s first trillionaire.

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** Yes, I’ve been a bit hesitant to drive the Model Y while I wait for the mobile tech to visit. I realize that an owner can be left locked out if their battery dies. It’s definitely not worth a run to the grocery store for an additional item for dinner or an impromptu museum visit with a gal friend.