🚘 Tesla: 'We Dug Our Own Grave'
Elon Musk's latest earnings call reveals eyebrow-raising quotes
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Tesla reported its Q3 performance last week, and the stock nosedived by nearly 15% in the following days.
As always, the quarter had a lot to unpack, and we're here to sift through it, offering you visualized insights and a clearer picture.
Price cuts and fewer deliveries contributed to a significant drop in revenue growth. In addition, squeezed margins led to the operating profit plummeting by 52% year-over-year.
It wasn’t all doom and gloom. Tesla still aims to deliver 1.8 million vehicles in 2023. The much-anticipated Cybertruck is also on the horizon, with first deliveries slated for the end of November, albeit with some strings attached (more on this in a minute).
Meanwhile, the Big Three US automakers — GM, Ford, and Stellantis — face pressure from the United Automobile Workers union, with recent strikes and layoffs capturing headlines. Could this turbulence in the industry work in Tesla's favor?
Today at a glance:
Tesla Q3 FY23.
Recent business highlights.
Key quotes from the earnings call.
What to watch looking forward.
In case you missed it, check out our YouTube Channel, where we dive into the secrets behind Tesla’s business model. If you enjoy watching these videos as much as we enjoy creating them, you're in for a treat!
1. Tesla Q3 FY23
Tesla's revenue comes from three primary sources:
Automotive: Revenue from selling electric vehicles, including models S, 3, X, and Y (84% of revenue).