


News on October 19, Tesla’s latest financial report data showed that the company’s net profit in the third quarter dropped significantly by 44% from the same period last year, from US$3.292 billion to US$1.853 billion. This news had a direct impact on Tesla's stock price, causing Tesla's stock price to fall 4.78% on October 18, closing at $242.68 per share. The market value evaporated by more than $38.6 billion overnight, approximately RMB 282.4 billion.
It is understood that Tesla achieved a total of 430,488 vehicles in the third quarter, a year-on-year increase of 18%; the total delivery volume was 435,059 vehicles, a year-on-year increase 27%. Among them, Model The production volume of 3/Y reached 416,800 units, a year-on-year increase of 20%, and the delivery volume was 419,074 units, a year-on-year increase of 29%; while Model The production volume of S/X was 13,688 units, a year-on-year decrease of 31%, and the delivery volume was 15,985 units, a year-on-year decrease of 14%. Although Tesla achieved year-on-year growth in vehicle production and deliveries in the third quarter, a sharp decline in net profit has put considerable pressure on the electric car maker.
According to the editor’s understanding, analysts believe that the decline in Tesla’s net profit in the third quarter may be related to a variety of factors. On the one hand, Tesla has been expanding production capacity globally to meet market demand, which may have led to certain cost pressures. On the other hand, Tesla faces competition in the Chinese market from local brands BYD, NIO, etc., which may also have an impact on its profitability.
Despite Tesla’s unsatisfactory performance in the third quarter, its leadership position in the global electric vehicle market remains solid.
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