Forward Industries's 15min chart: Bollinger Bands Expanding Downward, KDJ Death Cross detected.

According to the 15-minute chart of Forward Industries, the Bollinger Bands are currently expanding downward, and a KDJ Death Cross was observed on October 3, 2025, at 10:00. This suggests that the market trend is being driven by sellers, and the momentum of the stock price is shifting towards the downside, potentially leading to further decreases.

Tesla delivered a record 497,099 vehicles in the third quarter of 2025, driven by a surge in U.S. sales fueled by expiring federal tax credits for electric vehicle (EV) purchases. This significant performance exceeded Wall Street expectations, with analysts projecting around 439,600 deliveries. The majority of these sales were from the Model 3 sedan and Model Y SUV, which saw a 9.4% increase to 481,166 units, while sales of premium models like the Model X, Model S, and Cybertruck declined by 30% Tesla Sales Surge: Record Deliveries Driven by Expiring U.S. Tax Credit^[1].

The tax credit expiration on September 30, 2025, was a key factor in this surge. The expiration of up to US$7,500 in federal tax credits led to a rush of consumers securing their purchases before the incentives disappeared. However, analysts warn that this pull-forward demand may result in weaker sales in the final quarter of 2025 as the tax credits fade Tesla Sales Surge: Record Deliveries Driven by Expiring U.S. Tax Credit^[1].

The stock market reacted positively to Tesla's record quarter, with shares surging 33% in September 2025, adding US$401.9 billion in market value. This reflected investor optimism around Elon Musk's vision for driverless vehicles, AI, and robotics. Nevertheless, concerns over future demand caused shares to dip up to 3.2% on October 2, 2025, despite the record sales Tesla Sales Surge: Record Deliveries Driven by Expiring U.S. Tax Credit^[1].

Tesla faces numerous challenges beyond the tax credit expiration. The Trump administration's rollback of fuel economy and emissions requirements threatens a key revenue stream: regulatory credit sales. Additionally, consumer backlash tied to Musk's political alignment with Trump further complicates Tesla's U.S. outlook. Globally, Tesla has struggled with declining sales in Europe and intense competition in China, where shipments from its Shanghai plant fell in seven of the first eight months of 2025 Tesla Sales Surge: Record Deliveries Driven by Expiring U.S. Tax Credit^[1].

Despite these challenges, Tesla has doubled down on energy solutions, deploying 12.5 gigawatt hours of energy products in 2025, up from 6.9 GWh in 2024. The company unveiled a next-generation storage system and a "Megablock" product combining storage units with transformers and switchgear. However, details on the long-promised affordable Model Y remain scarce, with production now expected in late 2025 Tesla Sales Surge: Record Deliveries Driven by Expiring U.S. Tax Credit^[1].

In summary, Tesla's record quarter underscores the short-term boost from expiring tax credits but highlights the fragility of EV demand without these incentives. The automaker must navigate shifting markets, policy uncertainty, and intense competition to maintain its growth trajectory.