The current Tesla quarterly figures 2024 have surprised both investors and industry experts. While profit significantly exceeded expectations, turnover fell short of forecasts. Despite this discrepancy, the Tesla share significantly. In addition, groundbreaking plans for autonomous vehicles, new models and technological innovations were presented during the earnings call. Find out everything you need to know about the latest developments at Tesla.
Impressive profit above expectations
In the third quarter of 2024 Tesla an impressive profit of 2.17 billion dollars, an increase of 17% year-on-year. Adjusted earnings per share amounted to 0.72 dollars, well above the expected 0.58 dollars. This strong profit performance meant that the Tesla share rose by over seven percent in after-hours trading.
Factors behind the rise in profits
The increase in profits was largely due to higher margins and optimized production processes. Despite the increase in profits, total sales of 25.2 billion dollars fell just short of analysts' expectations of 25.4 billion dollars.
Revenue shortfall and vehicle sales
Although total turnover fell short of expectations, the Tesla continued to increase deliveries. Revenue rose by eight percent year-on-year, with sales in the pure car business increasing by two percent to around 20 billion dollars. The lower turnover was partly due to lower income from the sale of CO₂ certificates to manufacturers of combustion engines.
Vehicle deliveries in detail
In the past quarter Tesla delivered just under 463,000 vehicles, an increase of six percent compared to the previous year. Most of these vehicles were the popular models Tesla Model 3 and Tesla Model Ywhich together accounted for around 440,000 units. The new electric pickup Cybertruck has already established itself as the third best-selling electric vehicle in the USA, although no exact sales figures have been announced.
Innovations and future strategies
During the earnings call Tesla presented a large number of innovative projects and strategic plans that will shape the company in the coming years.
Autonomy and Full Self-Driving (FSD)
Tesla continues to rely heavily on autonomous driving technologies. The latest version of the Full Self-Driving (FSD)-system, FSD V12.5, shows a hundredfold improvement in miles driven per intervention compared to the previous version. The introduction of FSD V13 creates a standardized platform for highways and cities, which further increases safety.
- CybercabThe new electric pickup will go into series production by 2026 and is initially expected to reach a capacity of 2 million units per year, with the possibility of increasing to 4 million units.
- End-to-end neural netsThe upcoming versions will be completely end-to-end, based on neural nets, which will further increase efficiency and safety.
- Milestone for security: Tesla expects the FSD to achieve safer performance than the average human in terms of miles per collision in the second and third quarter of next year.
Robotaxi and ride service network
Another highlight of the earnings call was the announcement of the launch of the Robotaxi-service:
- Bay Area Test Program: First tests with Model Y-vehicles and safety drivers are already underway in the Bay Area.
- Automated driver profilesRobotaxis automatically adapt to your Tesla-profile, including media apps, climate and seat adjustments.
- Regulatory challengesWhile Texas allows for faster adoption, approval in California could take until 2026.
- Market launchThe initial launch is expected to take place in Texas and possibly California next year, with subsequent expansion into other states.
New vehicle models and production capacities
Tesla plans to introduce several new models and expand production capacity:
- Affordable model for USD 25,000: Planned for the first half of 2025, based on the next generation of the vehicle platform and with an efficiency of 5.5 miles per kWh, is expected to be the most efficient drive unit of Tesla of the market.
- CybertruckThe electric pickup is on its way to series production and will play a central role in Tesla's model range.
- Semi: Production of the updated Tesla Semi will begin in 2026, with pilot builds as early as next year. The semi-trucks offer a significantly lower cost per mile and ton compared to diesel trucks.
Advances in energy and technology
In addition to vehicles Tesla heavily in the energy sector and technological innovations:
- 4680 cell: Tesla has produced its 100 millionth 4680 cell, which is considered the most cost-effective cell in North America. Production is being continuously expanded to meet demand for both vehicles and stationary storage solutions.
- AI and Optimus: Advances in artificial intelligence and the development of humanoid robots, which are made possible by Tesla's vertical integration.
- Infotainment with GrokEnhance infotainment offerings with AI support for better user experiences, including improved browser features, movies, games and productivity apps.
Service and increased efficiency
Tesla is continuously working to optimize customer service and increase efficiency:
- Automated vehicle diagnosticsVehicles diagnose themselves and report problems directly to the service department, significantly reducing repair times.
- Dedicated service facilitiesFaster repairs through specialized technicians and prepared tools, reducing the overall turnaround time for service requests.
- Cost reduction: Tesla strives to minimize service costs without compromising the customer experience by implementing automated diagnostics and optimized workflows.
Future outlook and strategies
Tesla sees a promising future with continued growth in vehicle deliveries and energy projects. The strategic investments in autonomy, new models and efficient production methods position the company as a leading innovator in the industry. Tesla The company plans to further increase capacity and expand its market leadership to support the global transition to sustainable energy.
- Growth potentialWith the planned increase in production capacity to almost three million vehicles per year by 2025 and the introduction of new models such as the Cybertruck and the affordable 25K model, there is a lot of potential for growth. Tesla is well positioned to continue dominating the global market.
- Technological innovations: Advances in FSD, AI and battery technology will Tesla help to continuously improve the efficiency and safety of its vehicles.
- Market expansion: The expansion of the production facilities in North America, Europe and Asia enables Teslato respond more quickly to regional demand and optimize supply chains.
Keywords: Tesla, Tesla Model Y, Tesla Model 3, Robotaxi, FSD, Cybercab, Tesla semi, Tesla Cybertruck, 4680 Cell, AI, Optimus, Infotainment, Grok, Tesla accessories, Tesla Store, Shop4Tesla, Tesla News
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