Tesla narrowly missed the analysts’ estimates on revenue, reporting $25.18 billion for the third quarter compared to the expected $25.4 billion. However, the figure represents an 8% year-over-year increase and improvement on $25.05 billion it had in the second quarter.

The company’s adjusted earnings per share, on the other hand, came at $0.72 to beat the estimates of $0. 58. Its margin figure was at 19.8% versus the expected 16.8%, accompanied by an adjusted net income of $2.5 billion and $2.9 billion in free cash flow.

“We delivered strong results in Q3 with growth in vehicle deliveries both sequentially and year-on-year, resulting in record third-quarter volumes,” Tesla stated in a press release.

Tesla also said that the preparations for offering new vehicles are “underway,” sharing that the highly-anticipated affordable model, which is rumored to have a price below $30,000, will launch in the first half of 2025. Company’s CEO Elon Musk added during an earnings call that the expected volume growth in 2025 will be between 20% and 30%.

The investors welcomed the news, causing Tesla’s stock to surge 21.92% and close at $260.48 per share. This marked the stock’s best day in 11 years. It also brought the company’s shares 4.85% up year-to-date.

The post Tesla Stock Surges Close to 22% on Strong Earnings, Cheaper EV Model Timeline appeared first on theprimarymarket.com.

Tesla said it produced 469,796 EVs and delivered a total of 462,890 units from July to September, with the latter being an increase of 6.4% compared to the same period in 2023. However, the mark came below of the analysts’ expectations on multiple levels. Analysts polled by FactSet expected 463,310 deliveries, while analysts polled by LSEG had 469,828 deliveries penciled in.

Despite the miss, there are some positives for Tesla, considering that this was the first growth in deliveries it had seen in 2024. It previously had a 6.5% slide in global deliveries for the first half of the year.

Still, these numbers make it unlikely that Tesla will manage to clear CEO Elon Musk’s goal of surpassing the record of 1.8 million cars delivered in 2023. The EV maker delivered 1,293,656 units in the three quarters and would have to also have a record fourth quarter by a significant margin to get there.

Investors were not particularly pleased with Tesla’s delivery report as the company’s stock dropped by 3.5% on Wednesday to close at $249.02 per share. This resulted in all of the stock’s gains in 2024 being wiped out.

The post Tesla Stock Slides After EV Maker Misses on Q3 Deliveries appeared first on theprimarymarket.com.

“All U.S. cars that are capable of FSD will be enabled for a one-month trial this week,” Musk wrote on social media platform X.

Priced at $12,000, the FSD technology has fallen short of expectations in terms of being a profit driver. This comes after Tesla was faced with regulatory and legal hurdles regarding its safety and marketing efforts. In response, Musk claimed that critics do not understand how well the FSD works while supervised.

Tesla’s decision to provide a trial of the FSD to U.S. consumers comes across as a sales push amid declining adoption rates of the technology. While 53% of Tesla customers opted for the driver-assist technology in the third quarter of 2019, only 14% of customers purchased the FSD in the third quarter of 2022.

The post Tesla Offers One-Month Trial of Driver-Assist Technology appeared first on theprimarymarket.com.

“This is the essential quandary of manufacturing: factories need continuous production for efficiency, but consumer demand is seasonal,” Tesla CEO Elon Musk explained. With the company being hurt by a vicious price war with rivals that began a year ago, the company warned that its sales may decline this year as it looks to focus on the development of its next-generation EV, named “Redwood”.

The decision to raise the price of the Model Y follows Tesla’s previous decision to increase the price of the Model Y rear-wheel drive and long-range vehicles by $1,000, to $$43,990 and $48,990 respectively.

The post Tesla to Increase Model Y Price in Europe appeared first on theprimarymarket.com.

A post from Tesla on the social media platform Weibo showed that the price of the Model S has been lowered from 808,900 yuan to 754,900 yuan ($103,477.58); a 6.7% drop. The price of the Model X was reduced by 6.9% from 898,900 yuan to 836,900 yuan.

Vehicle sales in China for the EV maker declined by 31% in July compared to June – the first month-on-month decline that Tesla has experienced since December last year. This was the period in which Tesla lowered its production levels as it dedicated more resources to preparing for the revamped Model 3 launch.

In addition to raising its profit margin, Tesla is also looking to remain competitive against rivals such as China’s BYD, which saw its sales increase over July compared to the previous month.

The post Tesla Slashes Prices in China in Sales Push appeared first on theprimarymarket.com.

Tesla unveiled Cybertruck back in November 2019 and received 250,000 preorders in less than a week. Since then, the highly anticipated EV pickup faced some challenges that delayed production before Tesla CEO Elon Musk announced that the first units would find their way to customers in the third quarter of 2023.

The shares of Tesla dipped as low as $108 in early January before doubling up in value by the end of the month. Following the news about the first Cybertruck being produced in the Giga Austin plant, Tesla stock had a strong opening on Monday, reaching a price of $290.80 per share at one point.

Wall Street analysts expect Tesla shares to continue being on the rise in the following months, especially if the company delivers on its promise to start delivering Cybertruck to customers. The plans to build a new factory in Mexico and the expected introduction of new Tesla coupe models should also work in favor of keeping the stock strong.

The post Tesla Stock Surges After Giga Austin Plant Produces the First Cybertruck appeared first on theprimarymarket.com.

In contrast to the general trend, new energy vehicle (NEV) sales surged by over 25% in June, accounting for 35% of total car sales for the month. Over the first six months of the year, NEV sales grew by 37% to 3.09 million units. Although overall sales in June fell, China’s car exports for the month skyrocketed by 56%.

Both Tesla and rival EV maker BYD reached record deliveries for their China-made vehicles in the second quarter. Still, Tesla’s market share for pure electric and plug-in hybrid cars in China slipped during the second quarter from 10.5% in Q1 to 8.8%.

The post China’s Car Sales Fall in June, Diluting Tesla’s Market Share appeared first on theprimarymarket.com.

Chief Executive Elon Musk has long stood behind the decision to use cheaper lithium phosphate (LFP) battery technology, announcing in March that “the vast majority of the heavy lifting for electrification will be iron-based cells.”

According to the company’s “Master Plan Part 3” released on Wednesday, LFP batteries will be used in “short-range” heavy electric trucks, which the company referred to as “Semi Light.” No details such as a release date were given.

Last December, Tesla began to deliver its Semi electric trucks with a longer 500-mile driving range per charge. These trucks are powered by a nickel-based battery.

In addition to switching its “Semi Light” trucks to LFP batteries, Tesla also plans to use these batteries in its mid-sized vehicles, Model 3 and Model Y. As of late, no timeline for the transition has been given.

While Tesla is determined to make use of the LFP batteries, the prospect of Chinese suppliers building factories in the United States poses a challenge due to Chinese-U.S. tensions.

The post Tesla to Use New Batteries in Semi-Heavy Electric Trucks and Affordable Vehicle appeared first on theprimarymarket.com.

A quick look at Tesla’s official website, and you’ll notice that Model S Plaid has gone from $114,990 to $109,990 while Model S AWD is now priced at $89,990 compared to the previous price of $94,990. On the other hand, you can now get Model X AWD for $99,990, down from $109,990, while the Plaid version of Model X has now dropped from $119,990 to $109,990.

Tesla CEO Elon Musk hinted at possible price movement during the company’s investor day earlier this month. At the time, Musk said that people have an “infinite” desire to own a Tesla but that the prices are stopping them from making that a reality.

“We found that even small changes in the price have a big effect on demand, very big,” he added.

After the debut of discount prices for Model X and Model S, Tesla’s stock has dropped roughly 2% compared to the close price of 198.30 per share on Friday. Tesla shares are 79.04% up year to date after a huge slide in 2022.

The post Tesla Slashes Prices of its Model X and Model S for the Second Time This Year appeared first on theprimarymarket.com.

Chandan Kumar, head of products at ETF provider Indxx commented that Tesla’s continued growth in China is unsurprising. This is because China’s Passenger Car Association (CPCA) stated in February that sales of new energy vehicles rose by 30% overall for the month.

“As a logical result of this Tesla, despite what many Americans may think, only gets roughly 31% of its total sales from the US, with the rest essentially all from China and Europe,” Kumar observed.

Much of Tesla’s sales boost comes from the company’s decision to cut the price of its Chinese-made Model 3 and the Model Y in January, which were reduced by 13.5% and 10% respectively.

Despite Tesla’s sales growth, the company was still outperformed by competitors such as BYD, which outsold Tesla and grew its new energy vehicle sales by over 100% for the month.

The post Tesla Stock Rises Amid China Sales Boom appeared first on theprimarymarket.com.

Tesla narrowly missed the analysts’ estimates on revenue, reporting $25.18 billion for the third quarter compared to the expected $25.4 billion. However, the figure represents an 8% year-over-year increase and improvement on $25.05 billion it had in the second quarter.

The company’s adjusted earnings per share, on the other hand, came at $0.72 to beat the estimates of $0. 58. Its margin figure was at 19.8% versus the expected 16.8%, accompanied by an adjusted net income of $2.5 billion and $2.9 billion in free cash flow.

“We delivered strong results in Q3 with growth in vehicle deliveries both sequentially and year-on-year, resulting in record third-quarter volumes,” Tesla stated in a press release.

Tesla also said that the preparations for offering new vehicles are “underway,” sharing that the highly-anticipated affordable model, which is rumored to have a price below $30,000, will launch in the first half of 2025. Company’s CEO Elon Musk added during an earnings call that the expected volume growth in 2025 will be between 20% and 30%.

The investors welcomed the news, causing Tesla’s stock to surge 21.92% and close at $260.48 per share. This marked the stock’s best day in 11 years. It also brought the company’s shares 4.85% up year-to-date.

The post Tesla Stock Surges Close to 22% on Strong Earnings, Cheaper EV Model Timeline appeared first on theprimarymarket.com.

Tesla said it produced 469,796 EVs and delivered a total of 462,890 units from July to September, with the latter being an increase of 6.4% compared to the same period in 2023. However, the mark came below of the analysts’ expectations on multiple levels. Analysts polled by FactSet expected 463,310 deliveries, while analysts polled by LSEG had 469,828 deliveries penciled in.

Despite the miss, there are some positives for Tesla, considering that this was the first growth in deliveries it had seen in 2024. It previously had a 6.5% slide in global deliveries for the first half of the year.

Still, these numbers make it unlikely that Tesla will manage to clear CEO Elon Musk’s goal of surpassing the record of 1.8 million cars delivered in 2023. The EV maker delivered 1,293,656 units in the three quarters and would have to also have a record fourth quarter by a significant margin to get there.

Investors were not particularly pleased with Tesla’s delivery report as the company’s stock dropped by 3.5% on Wednesday to close at $249.02 per share. This resulted in all of the stock’s gains in 2024 being wiped out.

The post Tesla Stock Slides After EV Maker Misses on Q3 Deliveries appeared first on theprimarymarket.com.

“All U.S. cars that are capable of FSD will be enabled for a one-month trial this week,” Musk wrote on social media platform X.

Priced at $12,000, the FSD technology has fallen short of expectations in terms of being a profit driver. This comes after Tesla was faced with regulatory and legal hurdles regarding its safety and marketing efforts. In response, Musk claimed that critics do not understand how well the FSD works while supervised.

Tesla’s decision to provide a trial of the FSD to U.S. consumers comes across as a sales push amid declining adoption rates of the technology. While 53% of Tesla customers opted for the driver-assist technology in the third quarter of 2019, only 14% of customers purchased the FSD in the third quarter of 2022.

The post Tesla Offers One-Month Trial of Driver-Assist Technology appeared first on theprimarymarket.com.

“This is the essential quandary of manufacturing: factories need continuous production for efficiency, but consumer demand is seasonal,” Tesla CEO Elon Musk explained. With the company being hurt by a vicious price war with rivals that began a year ago, the company warned that its sales may decline this year as it looks to focus on the development of its next-generation EV, named “Redwood”.

The decision to raise the price of the Model Y follows Tesla’s previous decision to increase the price of the Model Y rear-wheel drive and long-range vehicles by $1,000, to $$43,990 and $48,990 respectively.

The post Tesla to Increase Model Y Price in Europe appeared first on theprimarymarket.com.

A post from Tesla on the social media platform Weibo showed that the price of the Model S has been lowered from 808,900 yuan to 754,900 yuan ($103,477.58); a 6.7% drop. The price of the Model X was reduced by 6.9% from 898,900 yuan to 836,900 yuan.

Vehicle sales in China for the EV maker declined by 31% in July compared to June – the first month-on-month decline that Tesla has experienced since December last year. This was the period in which Tesla lowered its production levels as it dedicated more resources to preparing for the revamped Model 3 launch.

In addition to raising its profit margin, Tesla is also looking to remain competitive against rivals such as China’s BYD, which saw its sales increase over July compared to the previous month.

The post Tesla Slashes Prices in China in Sales Push appeared first on theprimarymarket.com.

Tesla unveiled Cybertruck back in November 2019 and received 250,000 preorders in less than a week. Since then, the highly anticipated EV pickup faced some challenges that delayed production before Tesla CEO Elon Musk announced that the first units would find their way to customers in the third quarter of 2023.

The shares of Tesla dipped as low as $108 in early January before doubling up in value by the end of the month. Following the news about the first Cybertruck being produced in the Giga Austin plant, Tesla stock had a strong opening on Monday, reaching a price of $290.80 per share at one point.

Wall Street analysts expect Tesla shares to continue being on the rise in the following months, especially if the company delivers on its promise to start delivering Cybertruck to customers. The plans to build a new factory in Mexico and the expected introduction of new Tesla coupe models should also work in favor of keeping the stock strong.

The post Tesla Stock Surges After Giga Austin Plant Produces the First Cybertruck appeared first on theprimarymarket.com.

In contrast to the general trend, new energy vehicle (NEV) sales surged by over 25% in June, accounting for 35% of total car sales for the month. Over the first six months of the year, NEV sales grew by 37% to 3.09 million units. Although overall sales in June fell, China’s car exports for the month skyrocketed by 56%.

Both Tesla and rival EV maker BYD reached record deliveries for their China-made vehicles in the second quarter. Still, Tesla’s market share for pure electric and plug-in hybrid cars in China slipped during the second quarter from 10.5% in Q1 to 8.8%.

The post China’s Car Sales Fall in June, Diluting Tesla’s Market Share appeared first on theprimarymarket.com.

Chief Executive Elon Musk has long stood behind the decision to use cheaper lithium phosphate (LFP) battery technology, announcing in March that “the vast majority of the heavy lifting for electrification will be iron-based cells.”

According to the company’s “Master Plan Part 3” released on Wednesday, LFP batteries will be used in “short-range” heavy electric trucks, which the company referred to as “Semi Light.” No details such as a release date were given.

Last December, Tesla began to deliver its Semi electric trucks with a longer 500-mile driving range per charge. These trucks are powered by a nickel-based battery.

In addition to switching its “Semi Light” trucks to LFP batteries, Tesla also plans to use these batteries in its mid-sized vehicles, Model 3 and Model Y. As of late, no timeline for the transition has been given.

While Tesla is determined to make use of the LFP batteries, the prospect of Chinese suppliers building factories in the United States poses a challenge due to Chinese-U.S. tensions.

The post Tesla to Use New Batteries in Semi-Heavy Electric Trucks and Affordable Vehicle appeared first on theprimarymarket.com.

A quick look at Tesla’s official website, and you’ll notice that Model S Plaid has gone from $114,990 to $109,990 while Model S AWD is now priced at $89,990 compared to the previous price of $94,990. On the other hand, you can now get Model X AWD for $99,990, down from $109,990, while the Plaid version of Model X has now dropped from $119,990 to $109,990.

Tesla CEO Elon Musk hinted at possible price movement during the company’s investor day earlier this month. At the time, Musk said that people have an “infinite” desire to own a Tesla but that the prices are stopping them from making that a reality.

“We found that even small changes in the price have a big effect on demand, very big,” he added.

After the debut of discount prices for Model X and Model S, Tesla’s stock has dropped roughly 2% compared to the close price of 198.30 per share on Friday. Tesla shares are 79.04% up year to date after a huge slide in 2022.

The post Tesla Slashes Prices of its Model X and Model S for the Second Time This Year appeared first on theprimarymarket.com.

Chandan Kumar, head of products at ETF provider Indxx commented that Tesla’s continued growth in China is unsurprising. This is because China’s Passenger Car Association (CPCA) stated in February that sales of new energy vehicles rose by 30% overall for the month.

“As a logical result of this Tesla, despite what many Americans may think, only gets roughly 31% of its total sales from the US, with the rest essentially all from China and Europe,” Kumar observed.

Much of Tesla’s sales boost comes from the company’s decision to cut the price of its Chinese-made Model 3 and the Model Y in January, which were reduced by 13.5% and 10% respectively.

Despite Tesla’s sales growth, the company was still outperformed by competitors such as BYD, which outsold Tesla and grew its new energy vehicle sales by over 100% for the month.

The post Tesla Stock Rises Amid China Sales Boom appeared first on theprimarymarket.com.