Connect with us

News

Tesla turns a profit in Q3, up 145% year-over-year, maintains delivery outlook

Published

on

Tesla released its third quarter earnings after Wednesday’s market close. The Silicon Valley automaker and energy company said it took in $2.30 billion in revenue, up 145% from Q3 a year ago. This marks the first time the company has reported a profit on a GAAP basis, earning $111 million, or $0.71 per share on a diluted basis. Q3 GAAP net income came in at $22 million, or $0.14 per share.

The company also reported capital expenditure of $247.6 million in the third quarter which bested analyst estimates of $763 million in CapEx.

Deliveries on track

The shareholder letter also revealed that Tesla is on track to meet its guidance of 50,000 deliveries during the second half of 2016. The company had previously reported deliveries of 24,500 vehicles in Q3 and expects to deliver slightly over 25,000 more vehicles in the next quarter, maintaining their guidance of 50,000 new vehicle deliveries for the second half of 2016, and ending the full-year between 80-90,000 vehicles delivered. Tesla indicated that roughly a third of the deliveries – 30% to 35% – will be leases.

Model X

Advertisement

Tesla also continues to ramp up production of its Model X, indicating that the tech-laden electric SUV is growing to 6% of the U.S. large luxury SUV market in Q3, beating out models from Porsche, Land Rover and Infiniti within the same category. “The large luxury SUV category is three times the size of the large luxury sedan category in the U.S., and represents a huge opportunity to further increase Model X sales.”, reports Tesla.

Gigafactory

Battery cell production for Tesla Energy storage products will begin by end of year at the Gigafactory. The shareholder letter also indicated that the Sparks, Nevada-based battery plant will begin supporting volume production and deliveries of Model 3 towards the second half of 2017.

Tesla (TSLA) shares were trading up over 5% following the release of Tesla’s Q3 report to shareholders.

Advertisement
Advertisement
Comments

News

Tesla makes a change to its ‘American Heroes’ $500 discount

Published

on

(Credit: Tesla)

Tesla has made a change to its “American Heroes” discount, which takes $500 off the price of a vehicle purchase if you work in a certain field.

Tesla first launched the American Heroes discount earlier this year on May 22, 2025, and it initially started as a $1,000 deduction on the price of any of the company’s vehicles.

It formerly allowed military veterans, retirees, active-duty members, their spouses, first responders, teachers, and students. It utilized ID.me to verify their occupation.

However, Tesla has added a few groups of workers to this discount, according to language on its website:

“Tesla vehicles are perfect for everyday American heroes. Offer available to verified military veterans, retirees, active-duty members, their spouses, surviving spouses, first responders, medical providers, nurses, students and teachers verified through ID.me1. Adjustments applied when you place your order after verification. Eligibility criteria detailed at ID.me.”

Advertisement

The discount applies to all five Tesla vehicles, so it is not restricted to just the S3XY lineup.

The American Heroes discount is one of the several offers and incentives that Tesla offers on its vehicles. Currently, it is one of four offers Tesla has on its vehicles, with the others being:

  • Full Self-Driving (Supervised) Trial: Three-month trial for those who use a referral code to buy a vehicle.
  • Premium Connectivity Trial: One-month free
  • Financing Offers: Tesla has various financing offers, including a 3.99% APR with $5,000 on Model S and Model X orders in the U.S.

These incentives help drive sales, but they also show Tesla’s appreciation for those who work in challenging fields. The discount has no expiration, as of now, but with this recent addition, Tesla likely has no plans to eliminate the program.

Tesla has occasionally launched discounts for military members near the 4th of July as well.

Continue Reading

News

Tesla might be doing away with a long-included feature with its vehicles

It appears Tesla is mulling the possibility of not including key cards with its vehicles any longer.

Published

on

Credit: Tesla

Tesla might be doing away with a long-included feature with its vehicles, as it could be looking to phase out something that very few owners utilize.

Tesla Key Cards are included when you purchase your vehicle, and they assist in the initial setup process. However, after that, they are not super useful or relevant to the owner, as many rely on their Phone Key through the Tesla App to access their cars.

As such, it appears Tesla is mulling the possibility of not including key cards with its vehicles any longer. According to some language that has been removed from vehicle Owner’s Manuals that talks about the inclusion of key cards with the car upon delivery:

“Tesla provides you with two Model 3/Y key cards, designed to fit in your wallet.”

That sentence was removed from Owner’s Manuals, according to Not a Tesla App, which first spotted the change.

Advertisement

Tesla Model 3 owner implants RFID key card chip into her arm as ultimate hack to unlock door

Interestingly, the timing of the phrase being removed from Owner’s Manuals comes just after Tesla launched its “affordable” Standard Models, and could be a small money-saving measure for the company.

Key Cards have been utilized by Tesla for its cars since 2017, as they became an included accessory with the vehicle. They still have their place and are useful for other applications, such as Valet service and even to be used by car owners if their phone is dead or if someone else needs to get into the car.

They can also be purchased in the Tesla Shop for $40.

It seems as if Tesla is planning to have owners be completely reliant on the Phone Key, which is more useful and convenient than carrying around the Key Cards.

Advertisement

Although it is minor, it is yet another strategy Tesla is using to trim any sort of costs that can be eliminated and could save money in the long run.

Continue Reading

News

Elon Musk confirms Tesla FSD V14.2 will see widespread rollout

Musk shared the news in a post on social media platform X.

Published

on

Credit: Whole Mars Catalog/X

Elon Musk has confirmed that Tesla will be implementing a wide rollout of Full Self-Driving (FSD) V14 with the system’s V14.2 update. Musk shared the news in a post on social media platform X. 

FSD V14.1.2 earns strong praise from testers

Musk’s comment came as a response to Tesla owner and longtime FSD tester AI DRIVR, who noted that it might be time to release Full Self-Driving to the fleet because V14.1.2 has already become very refined.

“95% of the indecisive lane changes and braking have been fixed in FSD 14.1.2. I haven’t touched my steering wheel in two days. I think it’s time, Tesla AI,” the longtime FSD tester wrote

AI DRIVR’s comment received quite a bit of support from fellow Tesla drivers, some of whom noted that the improvements that were implemented in V14.1.2 are substantial. Others also agreed that it’s time for FSD to see a wide release.

In his reply to the FSD tester, CEO Elon Musk noted that FSD V14’s wide release would happen with V14.2. “14.2 for widespread use,” Musk wrote in his reply

Advertisement

Mad Max mode makes headlines

One of the key features that was introduced with FSD’s current iteration is Mad Max mode, which allows for higher speeds and more frequent lane changes than the previous “Hurry” mode. Videos and social media posts from FSD testers have shown the system deftly handling complex traffic, merging seamlessly, and maintaining an assertive but safe driving behavior with Mad Max mode engaged.

Tesla AI head Ashok Elluswamy recently noted in a post on X that Mad Max mode was built to handle congested daytime traffic, making it extremely useful for drivers who tend to find themselves in heavy roads during their daily commutes. With Musk now hinting that FSD V14.2 will go on wide release, it might only be a matter of time before the larger Tesla fleet gets to experience the notable improvements of FSD’s V14 update.

Continue Reading

Trending