Elon Musk can smile. Tesla presented its latest quarterly results this Wednesday, October 23 and the figures are well above analysts’ forecasts. Optimism is also in order for 2025. Explanations.
Tesla largely limits damage
In detail, the manufacturer delivered 462,890 vehicles during the third quarter, compared to only 443,956 in the second quarter. The company appears on track to match its 2023 numbers of 1.8 million sales, or even get a slight increase.
Tesla’s revenues, however, are a little below expectations. The firm reported revenue of $25.18 billion at the end of the third quarter, narrowly missing Wall Street’s forecast of $25.43 billion.
Quoted by BloombergGene Munster, Managing Partner of Deepwater Asset Management, comments: “Investors who wanted something today got better-than-expected earnings and delivery growth forecasts”.
Enough to boost the enthusiasm of the company, which underlines in a press release:
Despite continued macroeconomic headwinds and declining investment in electric vehicles, we remain focused on expanding our portfolio of vehicles and energy products, reducing costs, and making critical investments in AI projects and production capacity. We believe these efforts will allow us to capitalize on the ongoing transition in the transportation and energy sectors.
Elon Musk takes a political turn
Enthusiastic, Elon Musk embarked on an operation to attract investors. The billionaire even said he hoped for growth in deliveries of 20 to 30% next year. He specifies that he hopes the Cybercab will begin to be deployed in 2026.
Already imagining Donald Trump returning to the White House, the entrepreneur also dreamed of a new role within his administration to “measuring government effectiveness”. Such a position also raises questions in terms of potential conflicts of interest, as its various companies are impacted by investments and regulations of the federal state. To find out more about this, you can re-read our dedicated article here. This bet is also commercially risky for Tesla because we know that a large part of the company’s customers are Democrats.
We could imagine the public being somewhat heated by Elon Musk’s empty promises, but that is not the case. Tesla shares jumped 12% on Wall Street on Wednesday. Enough to increase its valuation by 80 billion dollars.
