Tesla's Q3 2024 earnings call revealed a record low Cost of Goods Sold per Vehicle (COGS) at ~$35,100, increasing their margins significantly. This pivotal achievement signals a bullish outlook for Tesla's profitability moving forward.
Wedbush analyst Dan Ives stated, 'The whole story is about gross margin. Showing the worst is in the rearview mirror...that gross margin is a goldilocks for any bull. The bears, it's a nightmare for.'
CEO Elon Musk projected, 'Something like 20% to 30% growth next year is my best guess.' This growth is expected as Tesla launches affordable models built on a next-gen platform in 2025.
The quarterly call represented one of Tesla's strongest, addressing past stagnation while gearing up for increased deliveries and profitability, especially with the upcoming Cybertruck.
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