<div id="readability-page-1"> Tesla Inc (TSLA -5.12%) closed at $436.00, down 5.11%. Trading volume reached 135 million shares, about 2 times its three-month average of 88 million. Markets finished higher. The S&amp;P 500 (^GSPC 0.06%) added 0.062% to 6,715.35, while the Nasdaq Composite (^IXIC 0.39%) gained 0.39% to 22,844.05, supported by tech and growth stocks. Among EV peers, Rivian Automotive Inc (RIVN -7.56%) fell 7.39% to $13.53, while NIO Inc – ADR (NIO 3.20%) rose 3.20% to $7.89. Tesla's decline came even after reporting record third-quarter deliveries of roughly 497,099 vehicles, topping forecasts. The surge was driven by customers rushing to capture the $7,500 U.S. EV tax credit before it expired at the end of September. With lease prices now raised across models following the credit's expiration, investors are questioning whether demand can hold up without subsidy support. Looking ahead, attention will likely focus on Tesla's fourth-quarter delivery guidance and margin trends, which will be key to proving that recent strength wasn't just pulled forward by incentives. Market data sourced from Google Finance and Yahoo! Finance on Thursday, October 2, 2025. </div>

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Tesla Inc (TSLA) shares fell 5.11% to $436.00 despite reporting record third-quarter deliveries of 497,099 vehicles, driven by demand for the $7,500 U.S. EV tax credit. Trading volume was significantly higher than average. Rivian Automotive Inc (RIVN) also saw a decline, while NIO Inc (NIO) rose. Investors are concerned about sustaining demand without subsidies, with upcoming focus on Tesla's fourth-quarter delivery guidance and margin trends.

- Tesla Inc (TSLA) closed at $436.00, down 5.11%, with trading volume at 135 million shares, double its three-month average.  
- Despite reporting record third-quarter deliveries of approximately 497,099 vehicles, concerns arise about sustaining demand after the expiration of the $7,500 U.S. EV tax credit.  
- Future focus will be on Tesla's fourth-quarter delivery guidance and margin trends to assess the sustainability of recent performance.  

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Stock Market Today: Tesla Drops Despite Record Deliveries and Subsidy-Driven Demand