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Tesla is expected to report stronger-than-expected Q3 results, with deliveries approaching 497,000 units and margins improving on the back of operational leverage. However, the surge in sales largely stems from a one-off rush ahead of the expiry of U.S. EV tax credits, rather than a genuine rebound in demand. With incentives now gone and cheaper competitors flooding the market, sustaining this momentum may prove challenging, said Lale Akoner, Global Market Analyst. “Tesla’s valuation — up more than 80% since 2022 — seems increasingly disconnected from its slowing earnings growth and ...