Tesla (NASDAQ:TSLA) is expected to hold its Q3 2023 earnings call this Wednesday, October 18, 2023. Analysts are looking to secure updates regarding the company’s margins, as well as ongoing projects such as the Cybertruck and Gigafactory Mexico.
Tesla delivered a total of 435,059 vehicles and produced 430,488 cars in Q3 2023. The numbers represented a decline from Q2, which was due in no small part to factory shutdowns and the launch of the upgraded Model 3 in Giga Shanghai. Based on these results, Tesla has now delivered 1,324,074 vehicles year-to-date, which already exceeds the 1,313,851 cars that were delivered in 2022.
With these in mind, the following are the top updates that TSLA analysts are looking for in the third-quarter earnings call.
Deliveries Target
Tesla is expected to post an update on its 2023 delivery target, which was set at 1.8 million vehicles. To meet that goal, the company will need to deliver a record 476,000 vehicles in Q4. Tesla appears determined to achieve this goal, as evidenced by the price cuts for the Model S and Model X and the updates to the Model 3 and Model Y in China.
The vehicle that would likely hold the key to Tesla’s Q4 2023 results is the upgraded Model 3, which is expected to start deliveries this quarter. With the new Model 3 in the picture, Tesla’s deliveries this quarter would likely see a notable boost.
Tesla Margins
Nine analysts polled by Visible Alpha noted that Tesla’s price war likely pushed the company’s margins to 18.1%, excluding regulatory credits. Wells Fargo analyst Colin Langan, for his part, noted that Tesla’s margins could dip below 15% in Q4 2023, as noted in a Reuters report.
“We are factoring in help from the recent decline in lithium prices. However, that likely falls short of offsetting the price cuts,” Langan noted.
Cybertruck Launch and Prices
With sightings of Cybertruck release candidates rising across the United States, expectations are high that the all-electric pickup truck’s first delivery event is just around the corner. Analysts are thus looking forward to any updates on the vehicle, such as its launch date and price.
Gary Black, managing partner of The Future Fund, expects the production Cybertruck to be more expensive than its initially-announced prices. “It will be around $49,900 for the single motor, probably $59,900 for the dual motor, and probably $79,900 for the tri-motor, a little bit higher than Model Y,” Black estimated.
Full-Self Driving (FSD) Progress
Tesla has missed Elon Musk’s FSD predictions so much that the CEO has practically become the executive who cried autonomous driving. This does not mean to say that FSD has stagnated, however. On the contrary, FSD’s recent updates have brought the driver-assist system closer to self-driving than ever before.
Tesla slashed the price of FSD in August. The effects of this price cut, as well as the progress of the program as a whole, are expected to be discussed by Tesla executives in the Q3 earnings call.
Gigafactory Mexico Updates
Tesla announced in March that it would build a new factory in the northern Mexican state of Nuevo Leon. Details about the factory, such as its cost and construction timeline, are yet to be announced. The project appears to be moving quite slowly compared to facilities such as Giga Shanghai and Giga Texas, though a senior Mexican government official noted last week that the facility’s final permits could be ready in weeks.
Analysts will likely be looking for updates on Giga Mexico in Tesla’s Q3 earnings call, especially considering that it is the facility that would be building the company’s next-generation vehicle and dedicated Robotaxi.
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Elon Musk
SpaceX turned a heralding moment for Starship into its greatest
Starship reached orbit despite losing an engine, deployed 26 Starlink V3 satellites on Flight 14.
SpaceX’s Starship reached orbit for the first time on Monday, and for a few nail-biting minutes it looked like it wouldn’t. During ascent on Flight 14, one of Ship 41’s six Raptor engines shut down early, and SpaceX’s livestream host Dan Huot told viewers the team had decided not to commit to orbit. Minutes later, after what Huot described as a lot of conversation in the control room, the final poll came back in favor, and a roughly 19 second burn of a single Raptor pushed the ship into orbit about 170 miles up.
The reversal matters because SpaceX had written the exit ramp into the mission plan. The company said it would only fire the orbital insertion burn if flight controllers confirmed enough backup hardware remained for the deorbit burn, a condition Teslarati laid out ahead of the flight. Losing an engine was exactly the scenario that rule was built for.
Pressing forward fits Elon Musk’s history. Falcon 1 failed three straight times before its fourth launch reached orbit in 2008, with SpaceX nearly out of money, and Starship was developed by flying prototypes until they broke. What changed this year SpaceX going public, and with $SPCX sliding below its IPO price in July when Flight 13 slipped, the short interest climbed significantly, as Teslarati reported at the time. A Starship potentially lost today with revenue generating next-gen Starlink satellites aboard would have landed directly on shareholders.
Splashdown confirmed. Congratulations to the entire SpaceX team on the first orbital flight of Starship! pic.twitter.com/urjmiwnvNl
— SpaceX (@SpaceX) September 28, 2026
That pressure showed up after orbit. SpaceX cut a flight planned to last nearly 10 hours to about three, moving splashdown from west of Chile to the North Pacific near Hawaii. SpaceX gave no reason, though Musk said this month the company was being extremely cautious about debris risk. The single Raptor for deorbit worked, and Ship 41 completed its flip and landing burn before breaking apart in the water, an outcome SpaceX expected. Musk has structured SpaceX’s governance to shield long term bets from market pressure.
The payload is the bigger business story. Musk posted that all 26 Starlink V3 satellites deployed and are “operating nominally.” Each V3 is rated for about 1 Tbps of downlink and 160 Gbps of uplink, so this single launch adds roughly 26 Tbps, about 10 times what a Falcon 9 load of V2 Mini satellites adds. The V3 is too large for Falcon 9, making Starship the only vehicle that can build out the planned 100,000 satellite constellation, at up to 60 per flight once it reaches routine service. Unlike the 20 V3 units on Flight 13, which reentered on a suborbital path, these will raise their orbits and could begin serving customers within weeks and bring in hundreds of millions of additional dollars in projected Starlink revenue.
SpaceX has already begun winding down Falcon 9 Starlink launches from Florida in favor of Starship. Reported targets put Flight 15 as early as October 19, leaving about three weeks to diagnose Monday’s engine shutdown before the next orbital attempt.
Starship’s 14th flight is set to launch on Monday, Sept 28. The 75-minute launch window opens at 7:15 a.m. CT. Live coverage of the mission starts ~35 minutes before launch → https://t.co/uQKQvgaTmJ
— SpaceX (@SpaceX) September 27, 2026
Elon Musk
SpaceX just got the green light Starship has waited years for
The FAA has cleared Starship Flight 14, setting up SpaceX’s first orbital attempt on Monday.
SpaceX has cleared the last regulatory hurdle standing between Starship and its first trip to orbit. The Federal Aviation Administration issued the launch license for Starship Flight 14 late Saturday, keeping the mission on track for liftoff Monday, September 28, from Pad 2 at Starbase, Texas.
The 75 minute launch window opens at 7:15 a.m. Central, and Boca Chica Beach closures are also scheduled for September 29 and 30 as backup dates. This will be Starship’s first revenue generating mission.
The license was the missing piece after SpaceX completed a full wet dress rehearsal with Booster 21 and Ship 41 on September 24. At the time, the company said the flight remained on track pending regulatory approval. Because Flight 14 flies an orbital profile, the FAA had to sign off on a modified license that met its safety, payload and financial responsibility requirements.
Observers combing through the new FAA paperwork also noticed that lightning no longer appears among Starship’s listed launch hazards. If that holds, it matters more for where Starship is headed than for Monday’s attempt. Florida and Louisiana, home to LC-39A and the planned Starbase Louisiana site, see some of the most frequent lightning in the United States.
SpaceX tells the FCC that Starship Flight 14 is going to orbit
Flight 14 is the mission SpaceX has been building toward for months. Ship 41 will carry 26 Starlink V3 satellites, the first operational V3 units to be deployed, and attempt roughly six orbits at about 275 kilometers over a flight lasting just under 10 hours. SpaceX says the ship will only perform its orbital insertion burn after flight controllers confirm enough hardware redundancy remains for the deorbit burn at the end of the mission. Ship 41 is targeting a splashdown in the Pacific west of Chile, while Super Heavy will return to the Gulf of Mexico.
The date carries some symbolism as well. A Monday launch would come 10 years and one day after Elon Musk first presented the Interplanetary Transport System, the design that became Starship, at the International Astronautical Congress in Guadalajara, Mexico.
SpaceX has not announced what comes next, but air traffic planning slides reported this week, list Flight 15 no earlier than October 19 and a first Starship launch from LC-39A in Florida no earlier than October 30. Both dates depend on how Monday goes.
Investor's Corner
Tesla Optimus Gen 3 shows off a cleaner, factory-ready design in new app discovery
Renders hidden inside Tesla’s Android app show Optimus Gen 3’s design before any official reveal.
Tesla may have accidentally given a first look at its newest Optimus Gen 3 humanoid robot when photos were found in the Tesla smartphone app.
Design files tucked inside a recent Android version of the Tesla app appear to show the third generation humanoid robot next to the older Gen 2.5 prototype. The assets were extracted from the app package by Tesla community member @wholemars, who posted the renders on X late Tuesday night before deleting them. The Tesla Newswire reshared the side by side comparison on Wednesday, and the images have circulated widely since.

Tesla Optimus Gen 2.5 vs Gen 3 comparison via @WholeMars on X
The files are labeled “gen3” and were built as models for Tesla app’s own interface, as validated directly by Grok to be official.
The comparison shows a robot that looks built for a factory line rather than a lab bench. Gen 2.5’s exposed mechanical linkages and gold plating on the knees and shins are gone. In their place, Gen 3 uses matte black fairings on the lower legs, paired with a more contoured champagne gold body. Flexible covers now seal the joint where the torso meets the upper thighs, keeping bearings and moving parts sealed from debris and unnecessary contact.
The body panels fit more tightly, and the hands, which Tesla has said carry 22 degrees of freedom, look far more refined than those on earlier units.
This most recent leak fills a gap Tesla has left open for most of the year. Elon Musk said on March 31 that Optimus 3 was walking around but needed “some finishing touches” before it could be shown, a delay Teslarati covered when Tesla missed its first quarter reveal target. Musk later said Tesla would hold the design back until closer to production, partly to keep competitors from copying it. No reveal date has been announced.
The app itself has been preparing for Optimus for months. In July, code in the Tesla app pointed to a dedicated robot phone key, a consent screen for collecting video and spatial data while Optimus works inside a home, and an alert system for low battery and mechanical faults. Finished 3D models of Gen 3 suggest the interface owners will eventually use is moving past placeholder code toward something Tesla intends to ship.
Manufacturing is moving in parallel. Tesla tore out the original Model S and Model X lines at Fremont this summer to make room for Optimus production, with a planned capacity of one million robots a year. At Giga Texas, the steel frame of a dedicated Optimus factory is nearing completion ahead of a targeted 2027 start, with Musk pointing to an eventual output of 10 million units annually.