

News
Tesla lands three models in Carvana’s Top 5 EV trade-ins for Q2
Tesla landed three of its models in Carvana’s Top 5 electric vehicle trade-ins for the second quarter of 2024, revealing many gas and EV buyers are turning their cars in for either the Model 3, Model Y, or Model S.
Tesla seems to have a knack for winning over those car owners who choose to trade their vehicles into Carvana, and sales data shows there are even several who trade in one Tesla for another.
The Model 3 and Model Y led the top five, with the Model S falling just behind the Chevrolet Bolt EUV, but in front of the fifth-place Nissan LEAF.
The Model 3 was most commonly bought by those who traded in a Honda Civic, Honda Accord, Toyota Camry, Nissan Altima, or BMW 3 Series, data from Carvana showed as they reported earnings this week.
Model Y buyers most commonly traded in the Model 3, but the Accord, Toyota Corolla, 3 Series, or Lexus IS were also commonly turned in for the all-electric crossover, which became the best-selling vehicle globally last year.
The Model S is where things get interesting. It seems Tesla drivers wanted to stick with sedans, but they also wanted to stay in the company as they bought either a Model 3 or another Model S. The Model 3 was the most common trade-in for the Model S. The Honda Accord, Model S, Mercedes-Benz C Class, and GLC followed.
NEWS: The CEO of used car website Carvana says the Tesla Model 3 was their best seller in Q2, and that they sell more EVs than ICE cars.
Source: https://t.co/C9B64XlwDZ pic.twitter.com/Nqrq3J3S7L
— Sawyer Merritt (@SawyerMerritt) August 1, 2024
Brand loyalty amongst Tesla owners has been commonly discussed over the past few years. Many of Tesla’s most loyal fans and owners tend to stay within the company so they can experience new features with a vehicle as it is updated and refreshed.
However, some choose to either size up, as many Model 3 owners did with the Model Y, or choose a more premium vehicle, as Model 3 owners did by trading into a Model S.
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Elon Musk
Tesla CEO Elon Musk reveals ideal timeline for insane self-driving feature
Tesla CEO Elon Musk has extremely optimistic expectations for Full Self-Driving progress by the end of 2025.

Tesla CEO Elon Musk has revealed his ideal timeline for what would likely be the most insane self-driving feature: the ability for drivers to play video games at the wheel.
There are a handful of videos out there of drivers already performing this task. Nobody using Tesla’s Full Self-Driving suite should perform these activities, as the company maintains the system is not fully autonomous.
Drivers are responsible for the vehicle and should be prepared to take over.
Tesla has put a lot of faith in its development of Full Self-Driving and has made tremendous strides over the past few years. Capabilities have gotten more refined and accurate through various methods, including data collection and hardware improvements.
Tesla kicks Robotaxi geofence expansion into high gear in Austin
It has gotten so good that Tesla launched a Robotaxi platform in Austin, Texas, on June 22. Passengers can hop in the back of a Model Y and will be transported around the city in a confined geofence that is about 90 square meters in size. There is nobody in the driver’s seat, but there is a Safety Monitor in the passenger’s seat.
Tesla launched a similar experience in California’s Bay Area last week, but the company has placed the Safety Monitor in the driver’s seat for that region for the time being.
Eventually, Tesla will get to a point where no monitor is needed, and the vehicles will be able to drive themselves. Many believe that it is a few years away, but Musk believes Tesla could achieve it very soon.
After a video of someone playing Grand Theft Auto in their Cybertruck while operating Full Self-Driving was shared on the social media platform X, Musk said this capability would be available in “probably 3 to 6 months, depending on regulatory approval in your city and state.”
Probably 3 to 6 months, depending on regulatory approval in your city and state
— Elon Musk (@elonmusk) August 3, 2025
It is important to remember that Musk has been very optimistic regarding autonomy timelines with Tesla projects. We heard for many years that the company would have self-driving vehicles “by the end of the year,” and those projects did not come to fruition.
While there was progress, there were no fully autonomous vehicles or software versions for customers.
With that being said, Tesla has made tremendous strides in its quest for autonomous vehicles this year, and launching a Robotaxi platform was a huge step in the right direction.
Elon Musk
Tesla rewards CEO Elon Musk with massive, restricted stock package
Tesla announced a new pay package for Elon Musk that is restricted and will award him nearly $30 billion for contributions to the company.

Tesla has rewarded CEO Elon Musk with a massive, restricted stock package that equates to about $29 billion in shares in an effort to retain him as the head of the company.
It is also a package that aims to reward Musk for leading numerous Tesla projects that have brought billions in value for shareholders over the past seven years. After his 2018 pay package was rejected by a Delaware Chancery Court, Musk started to question his future at the company.
This move, performed by a Special Committee of the Tesla Board, should retain him for several years.
🚨 BREAKING: Tesla has announced that its Board has unanimously approved a recommendation from the Special Committee of the Board to grant Elon an award of restricted stock equal to approximately one-third of the compensation he earned under the 2018 CEO Performance Award.
The… https://t.co/g7RKrTymDL pic.twitter.com/dnvkILlz6H
— TESLARATI (@Teslarati) August 4, 2025
On Monday morning, Tesla shared on X that it had approved a recommendation from a Special Committee comprised of Board Chair Robyn Denholm and fellow board member Kathleen Wilson-Thompson. It aimed to compensate Musk for his “extraordinary work” and reward him after not receiving “meaningful compensation” for the last eight years.
The post stated that “Tesla is committed to honoring its promises in the 2018 CEO Performance Award and intends to compensate its CEO for his future services commensurate with his contributions to our company and shareholders, we have recommended this award as a first step, ‘good faith’ payment to Elon.”
The award includes the following:
- 96 million restricted shares of stock, subject to Elon paying a purchase price upon meeting a two-year vesting term, to be delivered after receipt of antitrust regulatory approval
- The purchase price will be equal to the split-adjusted exercise price of the stock options awarded to Elon under the 2018 CEO Performance Award ($23.34 per share)
- A requirement that Elon serve continuously in a senior leadership role at Tesla during the two-year vesting term
- A pledging allowance to cover tax payments or the purchase price
- A mandatory holding period of five years from the grant date, except to cover tax payments or the purchase price (with any sales for such purposes to be conducted through an orderly disposition in coordination with Tesla); and
- If the Delaware courts fully reinstate the 2018 CEO Performance Award, this interim award will be forfeited or returned or a portion of the 2018 CEO Performance Award will be forfeited. To put it simply, there cannot be any “double dip.” Elon will not be able to keep this new award in addition to the options he will be awarded under the 2018 CEO Performance Award, should the courts rule in our favor
The board added:
“The Special Committee believes now is the right time to take decisive action to recognize the extraordinary value that Elon created for Tesla shareholders. As such, the Board (with Elon and Kimbal Musk recusing themselves) has unanimously approved a recommendation from the Special Committee of the Board to grant Elon an award of restricted stock equal to approximately one-third of the compensation he earned under the 2018 CEO Performance Award.”
Musk and his brother, Kimbal, are both members of the Tesla board. However, both Musk brothers recused themselves from any voting on this pay package.
The move comes as Musk has hinted on several occasions that he is concerned about his control of the company. His current stake in Tesla stands at about 12.8 percent. He has said a few times he would be more comfortable with a 25 percent stake to protect himself against “activist shareholders.”
He commented on it during the Q2 Earnings Call in late July:
“That is a major concern for me, as I’ve mentioned in the past. I hope that is addressed at the upcoming shareholders’ meeting. But, yeah, it is a big deal. I want to find that I’ve got so little control that I can easily be ousted by activist shareholders after having built this army of humanoid robots. I think my control over Tesla, Inc. should be enough to ensure that it goes in a good direction, but not so much control that I can’t be thrown out if I go crazy.”
The pay package should alleviate any concerns that Tesla would lose Musk as its CEO. Retaining him is perhaps the biggest step in ensuring consistent progress is made on several fronts, including AI and Robotics.
Elon Musk
Tesla kicks Robotaxi geofence expansion into high gear in Austin
Tesla has nearly doubled its Robotaxi geofence in Austin for the second time less than two months after it initially launched.

Tesla has kicked the expansion of its Robotaxi geofence in Austin, Texas, into high gear, as it grew the service area once again early Sunday morning.
Tesla launched its Robotaxi platform in Austin on June 22, and less than a month later, it was able to expand it. After its first expansion, Tesla had a larger geofence than Waymo, which launched its driverless ride-hailing service to the public in Austin in March. Waymo expanded the week after Tesla’s first augmentation.
Waymo responds to Tesla’s Robotaxi expansion in Austin with bold statement
Now, Tesla has answered Waymo once again by developing its service area in Austin to an even larger size. We expected it, as just two weeks ago, CEO Elon Musk said that the company would be growing the Austin geofence, but did not give an indication by how much.
The first geofence in Austin was roughly 20 square miles. On July 14, when the first expansion took place, Tesla Robotaxi riders had roughly 42 square miles of downtown Austin available for travel.
On the morning of August 3, Tesla nearly doubled the geofence by growing it to roughly 80 square miles, according to Grok. For reference, Waymo’s current service area in Austin is about 90 square miles:
For those asking me, here is a comparison of the newly expanded @Tesla @robotaxi
service area (as of 3 August 2025) and the newly expanded Waymo service areas in Austin, Texas.The autonomous ride hailing service area & system capabilities scalability is certainly being tested… pic.twitter.com/uaPpEP66Cq
— Joe Tegtmeyer 🚀 🤠🛸😎 (@JoeTegtmeyer) August 3, 2025
The expansion further extends the Southern portion of the geofence, going into suburban zones such as Barton Creek.
The continuous growth shows Tesla is prepared to extend its geofence in basically any direction. Now that it is going into suburban areas, we may get to see more Austin residents experience Robotaxi for an entire evening of activities, including pickup and dropoff at home.
🚨 Tesla Austin Robotaxi geofence sizes (in square miles):
Initial: 6/22 – ~20 square miles
First Expansion: 7/14 – ~42 square miles
Second Expansion: 8/3 – ~80 square miles pic.twitter.com/IwnvSJseE4
— TESLARATI (@Teslarati) August 3, 2025
The only question that remains is how much Tesla can expand at one time. The company seems to have the ability to push the geofence to a majority of Austin, but it maintains that safety is its biggest priority.
The company was spotted testing vehicles in the West Austin suburbs in areas like Marble Falls recently, indicating that Tesla could be expanding its service area to hundreds of square miles in the coming months.
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