Listen to Elon Musk’s amazing Q3 2020 Tesla Earnings Call and expert analysis

-

-Advertisement-

Tesla just scored another profitable quarter, actually the 5th consecutive one. The times have gone when TSLA bears challenged the automaker to turn a profit, not anymore.

Tesla CEO Elon Musk conducted the Q3 2020 Tesla Earnings Call with joy and excitement as he announced a historic quarter. Money things aside, Tesla actually delivered a ton of new advancements on the technology front as well demonstrated on Battery Day and Full Self-Driving Beta release.

Looking at the Operational Summary below, Tesla has made a quantum leap in Tesla Model Y and Model 3 production and deliveries. The Model 3/Y production grew by 69% QoQ and 60% YoY compared to Q3 2019.

Tesla Q3 2020 Operational Summary. Tesla Model S, 3, X, Y production and delivery numbers and Tesla Energy production stats.
Tesla Q3 2020 Operational Summary. Tesla Model S, 3, X, Y production and delivery numbers and Tesla Energy production stats. Source: Tesla (TSLA) investor relations website.

Besides Tesla’s achievements in vehicle production and deliveries, the Tesla Energy department also did well in Q3 2020. Tesla saw a massive growth of 111% QoQ & 33% YoY in Solar and a surge of 81% QoQ & 59% YoY in energy storage deployment. Major thanks to one of the world’s largest energy projects Tesla is doing in Moss Landing, Calfornia.

Our friends over at CleanTechnica recorded the Tesla Q3 2020 Earnings Call and made it available on their YouTube channel, let’s listen to Elon Musk and other executives from Tesla discussing Q3 and answering the tough questions.

Tesla (TSLA) Q3 2020 financial summary.
Tesla (TSLA) Q3 2020 financial summary. Source: Tesla investor relations website.

Fiat Chrysler’s regulatory credits had their fair share in Q3 2020 profits. Tesla sold $379M in regulatory credits added to the revenue, this is almost double the number of credits compared to last year’s.

The growth of Tesla Energy with 57 MW of solar and 759 MWh of energy storage added $579M into Tesla’s revenue stream. This is over-delivery from even the most bullish estimates, Tesla is just crushing the best of expectations even.

Tesla’s gross automotive gross margins excluding regulatory credits stood at 23.7%. This is a 5% point increase compared to Q2 2020 — again a tremendous achievement by Tesla. Although Q2 was plagued by the COVID-19 situation, Tesla’s gross margin even grew past Q1 2020’s figure of 20.0% ex regulatory credits.

Rob Maurer of the Tesla Daily podcast analyzed the Tesla Q3 2020 numbers in much detail in his episode titled Why Tesla Dominated Q3.

– Sponsored –

Stay tuned for more and more Tesla news, videos, and updates, follow us on:
Google News | Flipboard | RSS (Feedly).

Related Articles:

Iqtidar Ali
Iqtidar Alihttp://www.teslaoracle.com
Iqtidar has been writing about Tesla, Elon Musk, and EVs for more than 3 years on XAutoWorld.com, many of his articles have been republished on CleanTechnica and InsideEVs, maintains a healthy relationship with the Tesla community across the Social Media sphere. You can reach him on Twitter @IqtidarAlii

Latest News

FSD Beta 11.4.7.2 (2023.27.6) gets mostly positive reviews from testers, Tesla adds a new Data Sharing agreement prompt in the update

Tesla started rolling out the new FSD Beta update version 11.4.7.2 (firmware build 2023.27.6) yesterday. According to an initial...

Tesla shares Optimus robot’s AI progress, Elon Musk pledges to make it safer with convenient switch-off mechanisms

Tesla (TSLA) shared the development progress of its humanoid robot Optimus on Sunday. In a short video, Tesla showcased...

Tesla reopens Giga Texas with Master Candidate Cybertrucks and Model Y production restart

Multiple developments took place today at Tesla's Gigafactory in Austin, Texas. After almost a 1 month closure for upgrades,...

Tesla leads the auto industry by a mile with the launch of its 50,000th Supercharger in Ultra Red

Tesla (TSLA) has written a new chapter of the automotive industry in the last 11 years with its Supercharger...
- Advertisement -

Starship, OLM, and Mechazilla get thousands of upgrades in preparation for the 2nd orbital flight test, FAA holds approval, Starbase updates

SpaceX shared the details of the upgrades that have been made on the road to Starship's next orbital flight...

Starbase update: SpaceX conducts 2nd static fire test on Booster 9, Starship factory expands, Mid Bay demolished, more

Starbase, Texas: SpaceX has been intensely busy in preparation for the next Starship orbital flight since the 1st static...

Starship Booster 9 static fire served as a test bed for the new OLM water deluge system

SpaceX performed a static fire test on its Starship Super Heavy Booster 9 rocket yesterday. This test was performed...

Tesla Tips & Tricks

Here’s how to drive a Tesla Model 3/Y without the center screen (video)

All credit goes to Tesla for making giant center...

Tesla Model S and Model X owners can switch the on-screen media player position with a single tap (video)

Tesla (TSLA) keeps improving car features and the screen...

Popular Stories

- Advertisement -

You might also likeRELATED
Recommended for You