NEW YORK (AP) — Tesla reported an increase in sales in the third quarter as the electric-car maker likely benefited from a rush by consumers to take advantage of a $7,500 government credit before it expired on Sept. 30.

The company reported that sales in the three months through September rose 7 percent compared to the same period a year ago. The gain follows two quarters of declines.

Sales rose to 497,099 vehicles, compared with 462,890 in the same period last year. Analysts expected sales to fall slightly to 456,000, even with a boost from customers seeking to use the electric-vehicle incentive.

Investors have been optimistic about the company in recent weeks, sending the stock up 34 percent in September. They are betting Musk’s planned new cheaper version of his bestselling Model Y will recharge sales. He had promised that car earlier this year. Now the launch is expected in the current quarter or early next year.

The rise in the stock also reflects Musk’s success in shifting attention away from car sales to other aspects of the business — the rollout of its driverless robotaxi service planned for several cities and its Optimus robots for factory work and household chores.

The 7 percent rise for the third quarter compares with a 13 percent decline in the first quarter when Musk led President Donald Trump’s government cost-cutting efforts at the Department of Government Efficiency.

Tesla reports third-quarter earnings later this month. Profits for the previous quarter fell 16 percent as the company continued to lose market share to European EV makers and the fast-growing Chinese rivals, such as BYD.