Tesla earnings tanked in 3rd quarter

[PupSideDown]

https://www.theguardian.com/technol...sla-third-quarter-earnings-decline-cybertruck
LOL

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[Mach1E]

More large price cuts and sales still dropped.

That doesn’t bode well for Tesla.

 

[heisnuts]

More large price cuts and sales still dropped.

That doesn’t bode well for Tesla.

I don't know... Right now any manufacture would be delighted to have EV sales numbers anywhere near Tesla numbers right now. In Q3 of 2023, Tesla sold over 435,000 EVs.

 

[Logal727]

Not sure if this is funny, they still sold a shit ton of cars, great for EVs bad for our resales of course lol

 

[Mach1E]

I don't know... Right now any manufacture would be delighted to have EV sales numbers anywhere near Tesla numbers right now. In Q3 of 2023, Tesla sold over 435,000 EVs.

But the trend is down and profits are down, which is why the stock price is going down in after hours trading.

It’s a very bad sign if you can’t increase deliveries with price cuts.

 

[LincolnLuvr]

Maybe they'll reduce prices further! I would be more open to a Model 3 if I can get it for $10k?

 

[JohnFoxeSheets]

I don't know... Right now any manufacture would be delighted to have EV sales numbers anywhere near Tesla numbers right now. In Q3 of 2023, Tesla sold over 435,000 EVs.

Raw numbers matter to the overall car market, but not to the individual company. For the individual company (Tesla, in this case), everything is about your objectives/market expectations and whether or not you met them. Especially when your PE ratio multiples are what Tesla's are. This is why they're getting crucified in the market right now.

Of course Tesla has the best economies of scale of any US EV maker, but it appears they've found the bottom of their price elasticity.

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