For Tesla and its high-profile CEO Elon Musk, the third quarter of 2025 delivered both a record and a warning. The electric vehicle giant sold 497,099 cars worldwide from July through September, the highest quarterly tally in its history. That surge briefly pushed Musk’s fortune above $500 billion, according to Forbes’ billionaire tracker, making him the first person to ever cross that threshold.

But just as quickly as Tesla stock spiked, the gains began to slip. By Thursday afternoon, Tesla’s shares had dropped nearly 4%, pulling Musk’s net worth back down to $490 billion.

The tax credit rush

The record quarter was driven by a last-minute rush from American buyers before a $7,500 federal EV tax credit expired on September 30. The incentive, introduced under the Biden administration in 2022, was eliminated as part of Donald Trump’s sweeping spending and tax bill earlier this year.

That policy change sparked a short-term boom — but experts warn it could lead to a slump in coming months. Despite the blockbuster quarter, Tesla’s overall year-to-date sales remain 6% lower compared to 2024.

Rivals close in

Tesla wasn’t the only automaker enjoying the tax-credit frenzy. General Motors more than doubled its US EV sales in the same quarter, while Ford reported a 30% jump. Hyundai also doubled its US EV sales, even as it cut prices on its IONIQ 5 by more than $9,000 to stay competitive.

And outside America, Tesla’s biggest threat may come from BYD. The Chinese automaker reported a 31% year-over-year surge in sales, bringing its total EV passenger cars sold in 2025 to 1.6 million, compared to Tesla’s 1.2 million. Despite not selling in the US, BYD is now on track to overtake Tesla as the world’s largest EV maker.

Market share pressures

Tesla’s dominance is no longer assured. Registration data shows the company continues to lose global market share to rivals. While loyal fans still associate Tesla with innovation, some buyers have been turned off by Musk’s outspoken political activity, which has triggered protests in both the US and Europe.

Meanwhile, Chinese automakers like BYD are capturing more of the European EV market, eroding Tesla’s stronghold. And with automakers such as GM, Ford, and Hyundai slashing prices, Tesla faces the pressure of a rapidly commoditizing EV industry.

What’s next?

The third quarter record may end up being a fleeting high point. Analysts say Tesla’s next big challenge will be proving it can sustain growth without the tailwind of government subsidies and while fighting intensifying competition across every major market.
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British drivers may soon face a radical shift in road taxation, with proposals suggesting that car owners will be charged based on vehicle weight rather than emissions. The plan, set out by the influential Resolution Foundation, could affect millions of motorists—whether they drive petrol, diesel, or electric cars.

Why change the system?

Currently, the UK’s Vehicle Excise Duty (VED) is largely calculated on tailpipe emissions. This means electric vehicles (EVs), which produce zero CO₂ on the road, have often avoided paying road tax altogether. But as EV adoption accelerates, the Treasury is losing billions in revenue once generated from combustion cars.

With EVs projected to dominate new sales in the next decade, policymakers are under pressure to find a sustainable replacement.

The weight-based proposal

The Resolution Foundation suggests a “pay-per-mile” system that scales with a car’s weight. Under the model:

• 
  A lightweight EV weighing 1,000kg would pay about 3p per mile.
• A mid-sized EV weighing 1,800kg would pay 6p per mile.
• A large SUV or heavy EV above 2,800kg could face up to 9p per mile.

The idea is to link road charges directly to the impact cars have on infrastructure and the environment—heavier vehicles cause more road wear, produce greater tyre and brake pollution, and pose higher risks to pedestrians.

Not just EVs

Importantly, the proposed system would not single out EVs. Traditional petrol and diesel vehicles could also see their flat £195 VED replaced with weight-tiered charges, making it a universal system for all drivers.

Global precedents

Weight-based taxation is not a new idea. Countries like the Netherlands, Estonia, and even New South Wales, Australia, already have similar frameworks in place. Advocates say these systems have improved fairness while discouraging oversized cars.

Government response

The UK Treasury has already signaled its intent to reform motoring taxes, introducing VED for EVs in 2025 and investing over £2 billion to boost greener transport. A spokesperson said policymakers are balancing the need for revenue with incentives for low-emission travel.

Industry experts believe the changes could reshape car-buying behavior. Families may think twice before purchasing bulky SUVs, while manufacturers could feel pressure to design lighter, more efficient EVs.

A fundamental shift

For drivers, the impact could be significant. Someone covering 10,000 miles annually in a heavy EV could face £900 in extra charges. For large SUV owners, this could be even higher.

Critics argue the timing is delicate—just as the UK is trying to encourage EV adoption, heavier taxes may discourage buyers. Supporters counter that fairness and sustainability should guide future policy.

Either way, the shift from emissions-based to weight-based taxation would mark one of the most dramatic changes in UK road policy in decades—and every driver will feel it.
For more Update http://www.dailyglobaldiary.com