Tesla's profit actually fell 37% compared to the same period last year, despite buyers rushing to take advantage of the expiring EV tax credit.

Tesla said Wednesday that its profit sank in the third quarter after it cut car prices to lift sales. Profit fell to $1.4 billion from $2.2 billion a year earlier, a drop of 37 percent, the company said. Sales rose to $28.1 billion from $25.2 billion.

Tesla is recalling almost 13,000 newer model electric vehicles due to a battery pack issue that could fail and cause “loss of drive power,” the National Highway Traffic Safety Administration said in a notice.