

Investor's Corner
Tesla investors want Elon Musk to discuss these things at Q3 Earnings
Tesla investors (NASDAQ: TSLA) want CEO Elon Musk to discuss these things on Wednesday as the company will report earnings for the third quarter of 2024.
Fresh off the heels of the “We, Robot” event, where Tesla unveiled the Cybercab, its version of a robotaxi, the Robovan, which could be named something completely different, and used the Optimus bot to serve drinks and entertain, the company will report earnings tomorrow.
Investors and analysts submit questions to Say, an investor relations platform, to ask Musk and other executives.
Here are the five things investors want to know about it:
Tesla $25k affordable model
Tesla has yet to shed any light on whether it will build a $25,000 EV apart from the Cybercab, which Musk said would be priced below $30,000.
Investors and analysts are well aware the vehicle could help Tesla break into an entirely new consumer base and help expand sales and deliveries, which are expected to be level with 2023 levels this year at 1.8 million.
Several of the top questions on Say ask about the $25k model and whether Tesla plans to bring this type of vehicle at this lower price point to market.
Unfortunately, Musk will likely deflect this question as he usually refuses to reveal any prospective vehicle plans on earnings calls.
Tesla Service
It is no secret Tesla Service has been a real bottleneck of the company in recent years, and with more vehicles on the road than ever, more service is needed.
Unfortunately, this is still a pain point for Tesla as it continues to struggle with reasonable wait times for owners, and although it has tried to streamline the process in the past, it has come up remarkably short.
It was not long ago that we reported on some owners complaining of service wait times of nearly two months. Imagine having a car that is in need of service, only to be told it will be two months before you can get an appointment.
Tesla owners complain about extended Service waits of nearly two months
Tesla wanted to streamline service with an F1-style pit-stop approach, but it truly never came to fruition. Although there are more service centers and mobile service vehicles nearly every quarter, Tesla is falling behind on creating an efficient maintenance model for owners.
Tesla Roadster
For years, we’ve been hearing the Tesla Roadster is coming.
This year was no different, as Musk said the vehicle would be unveiled at the end of 2024, but there are no current plans as of now, and there has not even been a hint. Tesla could have unveiled it at We, Robot, and it would have been a huge development.

(Credit: Tesla)
Musk said earlier this year that “most of the engineering” has been completed already, and production would begin next year.
Literally any clarification on whether this is still the plan would be massive for those who are waiting to drop $250,000 on the car.
Tesla Cybertruck AWD Tax Credit
Perhaps one of the most important questions that does not seem to be as important as the aforementioned topics is that of the Cybertruck AWD qualifying for the EV tax credit.
The IRS does not have the Cybertruck as a currently qualifying vehicle, which disqualifies owners who take delivery from the $7,500 credit, which is now available at the point of sale.
Ryan McCaffrey even brought up the issue:
I cannot believe that the #1 question isn’t, “What can you tell us about the individual tax credit eligibility on the Dual Motor Cybertruck? Is the issue with regulatory procedure on the IRS side or is there an element to the truck’s battery cells that disqualifies it?”
— Ryan McCaffrey (@DMC_Ryan) October 22, 2024
Tesla could clear the air significantly here and help bring some more information to owners or even prospective buyers who want to buy the Cybertruck but would like the help from the tax credit.
Tesla will report its earnings tomorrow at market close, 4 p.m. on the East Coast.
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Elon Musk
Tesla CEO Elon Musk’s $1 trillion pay package hits first adversity from proxy firm
ISS said the size of the pay package will enable Musk to have access to “extraordinarily high pay opportunities over the next ten years,” and it will have an impact on future packages because it will “reduce the board’s ability to meaningfully adjust future pay levels.”

Tesla CEO Elon Musk’s $1 trillion pay package, which was proposed by the company last month, has hit its first bit of adversity from proxy advisory firm Institutional Shareholder Services (ISS).
Musk has called the firm “ISIS,” a play on its name relating it to the terrorist organization, in the past.
“ISIS”
— Elon Musk (@elonmusk) September 27, 2021
The pay package aims to lock in Musk to the CEO role at Tesla for the next decade, as it will only be paid in full if he is able to unlock each tranche based on company growth, which will reward shareholders.
However, the sum is incredibly large and would give Musk the ability to become the first trillionaire in history, based on his holdings. This is precisely why ISS is advising shareholders to vote against the pay plan.
The group said that Musk’s pay package will lock him in, which is the goal of the Board, and it is especially important to do this because of his “track record and vision.”
However, it also said the size of the pay package will enable Musk to have access to “extraordinarily high pay opportunities over the next ten years,” and it will have an impact on future packages because it will “reduce the board’s ability to meaningfully adjust future pay levels.”
The release from ISS called the size of Musk’s pay package “astronomical” and said its design could continue to pay the CEO massive amounts of money for even partially achieving the goals. This could end up in potential dilution for existing investors.
If Musk were to reach all of the tranches, Tesla’s market cap could reach up to $8.5 trillion, which would make it the most valuable company in the world.
Tesla has made its own attempts to woo shareholders into voting for the pay package, which it feels is crucial not only for retaining Musk but also for continuing to create value for shareholders.
Tesla launched an ad for Elon Musk’s pay package on Paramount+
Musk has also said he would like to have more ownership control of Tesla, so he would not have as much of an issue with who he calls “activist shareholders.”
Investor's Corner
Barclays lifts Tesla price target ahead of Q3 earnings amid AI momentum
Analyst Dan Levy adjusted his price target for TSLA stock from $275 to $350, while maintaining an “Equal Weight” rating for the EV maker.

Barclays has raised its price target for Tesla stock (NASDAQ: TSLA), with the firm’s analysts stating that the electric vehicle maker is approaching its Q3 earnings with two contrasting “stories.”
Analyst Dan Levy adjusted his price target for TSLA stock from $275 to $350, while maintaining an “Equal Weight” rating for the EV maker.
Tesla’s AI and autonomy narrative
Levy told investors that Tesla’s “accelerating autonomous and AI narrative,” amplified by CEO Elon Musk’s proposed compensation package, is energizing market sentiment. The analyst stated that expectations for a Q3 earnings-per-share beat are supported by improved vehicle delivery volumes and stronger-than-expected gross margins, as noted in a TipRanks report.
Tesla has been increasingly positioning itself as an AI-driven company, with Elon Musk frequently emphasizing the long-term potential of its Full Self-Driving (FSD) software and products like Optimus, both of which are heavily driven by AI. The company’s AI focus has also drawn the support of key companies like Nvidia, one of the world’s largest companies today.
Still cautious on TSLA
Despite bullish AI sentiments, Barclays maintained its caution on Tesla’s underlying business metrics. Levy described the firm’s stance as “leaning neutral to slightly negative” heading into the Q3 earnings call, citing concerns about near-term fundamentals of the electric vehicle maker.
Barclays is not the only firm that has expressed its concerns about TSLA stock recently. As per previous reports, BNP Paribas Exane also shared an “Underperform” rating on the company due to its two biggest products, the Robotaxi and Optimus, still generating “zero sales today, yet inform ~75% of our ~$1.02 trillion price target.” BNP Paribas, however, also estimated that Tesla will have an estimated 525,000 active Robotaxis by 2030, 17 million cumulative Optimus robot deliveries by 2040, and more than 11 million FSD subscriptions by 2030.
Investor's Corner
BNP Paribas Exane initiates Tesla coverage with “Underperform” rating
The firm’s projections for Tesla still include an estimated 525,000 active Robotaxis by 2030.

Tesla (NASDAQ: TSLA) has received a bearish call from BNP Paribas Exane, which initiated coverage on the stock with an Underperform rating and a $307 price target, about 30% below current levels.
The firm’s analysts argued that Tesla’s valuation is driven heavily by artificial intelligence ventures such as the Robotaxi and Optimus, which are both still not producing any sales today.
Tesla’s valuation
In its note, BNP Paribas Exane stated that Tesla’s two AI-led programs, the Robotaxi and Optimus robots, generate “zero sales today, yet inform ~75% of our ~$1.02 trillion price target.” The research firm’s model projected a maximum bull-case valuation of $2.7 trillion through 2040, but after discounting milestone probabilities, its base-case valuation remained at $1.02 trillion.
The analysts described their outlook as optimistic toward Tesla’s AI ventures but cautioned that the stock’s “unfavorable risk/reward is clear,” adding that consensus earnings expectations for 2026 remain too high. Tesla’s market cap currently stands around $1.44 trillion with a trailing twelve-month revenue of $92.7 billion, which BNP Paribas argued does not justify Tesla’s P/E ratio of 258.59, as noted in an Investing.com report.
Tesla and its peers
BNP Paribas Exane’s report also included a comparative study of the “Magnificent Seven,” finding Tesla’s current market valuation as rather aggressive. “Our unique comparative analysis of the ‘Mag 7’ reveals the extreme nature of TSLA’s valuation, as the market implicitly says TSLA’s 2035 earnings (~55% of which will be driven by Robotaxi & Optimus, w/ zero sales now) have the same level of risk & value-appropriation as the ‘Mag 6’s’ 2026 earnings,” the firm noted.
The firm’s projections for Tesla include an estimated 525,000 active Robotaxis by 2030, 17 million cumulative Optimus robot deliveries by 2040 priced above $20,000 each, and more than 11 million Full Self-Driving subscriptions by 2030. Interestingly enough, these seem to be rather optimistic projections for one of the electric vehicle maker’s more bearish estimates today.
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