Tesla Inc (NASDAQ:TSLA) reported strong third-quarter deliveries that beat analyst estimates, but a new report shows one of its electric vehicles has seen demand fall significantly.

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What Happened: Tesla is seeing a rebound in demand in many parts of the world, including China, and the company helped its home country, the U.S., set several records in the third quarter.

U.S. electric vehicle sales hit a new record of 438,487 units in the third quarter, according to a report from Cox Automotive. Sales were up 29.6% year-over-year and up 40.7% quarter-over-quarter. The new total beat a previous record set in the fourth quarter of 2024 by 20%.

U.S. EV new sales made up 10.5% of all new vehicle sales in the third quarter, hitting a record share in the quarter.

The strong demand came as the expiration of the Federal EV tax credit loomed on Sept. 30.

Among the segments that saw strong growth in the third quarter were ...