The company said it expects vehicle deliveries for the full to be up from the 1.8 million EVs it sold last year worldwide.
Tesla Inc. ’s third-quarter net income rose more than 17% from a year ago, reflecting a rebound in sales. The Austin -based company said Wednesday it made $2.17 billion from July through September, up from the $1.85 billion profit it posted in the same period a year ago. The profit came despite price cuts and low-interest financing that helped boost sales of the company’s aging product lineup. It was the company’s first year-over-year quarterly profit increase of 2024.
opens probe of Tesla’s so-called Full Self-Driving after pedestrian death Revenue rose 7.8% to $25.18 billion, falling short of Wall Street analysts who estimated it at $25.47 billion, according to FactSet. Excluding one time items, Tesla made 72 cents per share, beating analyst expectations of 59 cents. The company’s shares soared almost 9% in trading after Wednesday’s closing bell. Earlier this month Tesla said it sold 462,890 vehicles from July through September, up 6.
Elon Musk unveils Tesla's 'Cybercab,' to bring autonomous driving to other models in Texas in 2025 By using parts from existing models and the current manufacturing system, Tesla won’t reach cost reductions that it previously expected. But the company said this method should enable more than 50% growth over 2023 production. Tesla said it reduced the cost of goods per vehicle to its lowest level yet, about $35,100.
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