Tesla, Inc. (NASDAQ:TSLA) Q3 2024 Results Conference Call October 23, 2024 5:30 PM ET

Company Participants

Travis Axelrod - Head of Investor Relations
Elon Musk - Chief Executive Officer
Ashok Elluswamy - Director, Autopilot Software
Vaibhav Taneja - Chief Financial Officer
Lars Moravy - Vice President, Vehicle Engineering

Conference Call Participants

Pierre Ferragu - New Street
Adam Jonas - Morgan Stanley

Travis Axelrod

Good afternoon, everyone, and welcome to Tesla's Third Quarter 2024 Q&A webcast. My name is Travis Axelrod, Head of Investor Relations, and I am joined today by Elon Musk, Vaibhav Taneja and a number of other executives.

Our Q3 results were announced at about 3 P.M. Central Time in the update deck we published at the same link as this webcast. During this call, we will discuss our business outlook and make forward-looking statements. These comments are based on our predictions and expectations as of today.

Actual events or results could differ materially due to a number of risks and uncertainties, including those mentioned in our most recent filings with the SEC. During the question-and-answer portion of today's call, please limit yourself to one question and one follow-up. Please use the raise hand button to join the question queue.

Before we jump into Q&A, Elon has some opening remarks. Elon?

Elon Musk

Thank you.

So to recap, something that [Indiscernible] the industry I've seen year-over-year declines in order volumes in Q3. Tesla at the same time has achieved record deliveries. In fact, I think if you look at EV companies worldwide to the best of my knowledge, no EV company is even profitable. And I'm not - to the best of my knowledge, there was no EV division of any company, of any existing auto company that is profitable.

So it is notable that Tesla is profitable despite a very challenging automotive environment. And this quarter actually is a record Q3 for us. So we produced our 7-millionth vehicle actually just yesterday. So congratulations to the teams that made it happen in Tesla. That's staggeringly immense amount of work to make 7million cars.

So, let's see. And we also have the energy storage business is growing like wildfire, with strong demand for both Megapack and Powerwall. And as people know, on October 10th, we laid out a vision for an autonomous future that I think is very compelling. So, the Tesla team did a phenomenal job there with actually giving people an opportunity to experience the future, where you have humanoid robots walking among the crowd, not with a canned video presentation or anything, but literally walking among the crowd, serving drinks and whatnot.