In the third quarter of 2024, Tesla once again became the focus of the automotive industry and the global market with its financial results and ambitious future plans. Although its revenue was slightly below market expectations of $25.4 billion, Tesla's profitability still caught Wall Street's attention, with a net profit of about $2.17 billion, up 17% year-on-year, well above analysts' expectations of $1.87 billion. This achievement is not only due to Tesla's continuous optimization in cost control, but also inseparable from its unremitting pursuit of technological innovation.
1. Market trends and technical details
Tesla's success is not accidental, but the inevitable result of its keen insight into industry trends and technological innovation. In the third quarter of 2024 earnings call, Tesla CEO Elon Musk (Elon Musk) confidently said that thanks to the significant reduction in car costs and the continuous advancement of self-driving technology, Tesla is expected to achieve a 20%-30% increase in car sales in 2025. This prediction not only reflects Musk's deep insight into the existing market, but also highlights Tesla's deep accumulation and technical advantages in the field of autonomous driving.
In terms of technical details, Tesla's FSD (Full Self-Driving) technology is undoubtedly the key to its core competitiveness. As of the end of the third quarter of 2024, Tesla's FSD has accumulated more than 3.2 billion kilometers, which provides a solid support for Tesla's leading position in the field of autonomous driving. Tesla uses this data to continuously optimize its self-driving algorithms to improve the accuracy and safety of the system. In addition, Tesla has also deployed a large-scale computing power cluster at the Texas Gigafactory to support the development and training of its autonomous driving technology, further consolidating its leading position in the field of autonomous driving.
Figure: Musk predicts that Tesla's sales will soar by 20%-30% in 2025
2. Celebrity Views & Industry Analysis
Musk is full of confidence in Tesla's future, and he has repeatedly said in public that Tesla will lead the global automotive industry to develop in the direction of electrification and intelligence. In the field of self-driving taxis, Musk expects Tesla's self-driving taxi Cybercab to achieve mass production in 2026, with the goal of producing at least 2 million units per year. The setting of this goal not only demonstrates Tesla's ambition in the field of autonomous driving, but also indicates that Tesla will play an important role in the future mobility market.
In addition to its robotaxi business, Tesla plans to launch ride-hailing services in Texas and California in the United States by 2025. According to Musk, Tesla is actively negotiation with the local government to obtain regulatory approval as soon as possible. Once approved, Tesla will leverage its strengths in electric vehicles and autonomous driving to provide users with more convenient and efficient mobility services.
3. Data support
Tesla's financial report data provides strong support for its future development. In the third quarter of 2024, Tesla's total revenue reached $25.182 billion, an increase of 8% year-on-year, and net profit increased to $2.167 billion, a year-on-year increase of 17%. In terms of production, Tesla produced a total of 469,796 vehicles in the third quarter, of which 443,668 units were produced in the two hot-selling models, Model 3 and Model Y, an increase of 6% year-on-year. These figures not only prove Tesla's leadership in the electric vehicle market, but also provide a solid foundation for its future growth.
4. Project impact and prospects
Tesla's projects and programs will not only drive the company's own growth, but will also have a profound impact on the entire automotive industry. With the popularization of new energy vehicles and the development of autonomous driving technology, Tesla is expected to further increase its share of the global automotive market. At the same time, Tesla's innovations will continue to drive the industry towards a greener and smarter environment.
Electric vehicle companies represented by Tesla are leading the global automotive industry to electrify and intelligent. With the continuous advancement of battery technology and the improvement of charging infrastructure, the range and charging convenience of electric vehicles will be greatly improved. In addition, as autonomous driving technology continues to mature and become popular, the future of travel will be more convenient, efficient and safe.
5. Conclusion
In summary, Tesla's financial report and future plans for the third quarter of 2024 demonstrate its strong strength and clear direction in the field of electric vehicles and autonomous driving. With the continuous introduction of new technologies and the continuous expansion of the market, Tesla is expected to achieve even greater breakthroughs in the coming years. Musk's prediction of Tesla's future is not groundless, but based on the company's deep accumulation and technological advantages in the field of electric vehicles and autonomous driving. There is reason to believe that the electric future is within reach, driven by companies such as Tesla.
