A Tesla earnings call is always a fun experience. More often than not, Elon lets some little tidbit slip that wasn’t part of the script, much to the delight of the audience and consternation of the company’s lawyers. We know there will be talk of deliveries and gross margins and earnings before interest and taxes. GAAP and non-GAAP figures will be thrown around and a few questions will be asked from the steely eyed financial analysts on the call.
The big question on many people’s mind is, will the price of Tesla shares rise or fall as a result? The stock is down about a third from its all-time high in January. Will Elon deliver the goods to make it go back up? For many who are not shareholders, it’s just fun and useful to see how the Tesla story is unfolding. Here are a few topics that may tell the tale.
Tesla has placed a huge bet on the Chinese market for electric cars, selecting Shanghai for its first new factory. But then there seemed to have been some bumps in the road for Tesla in that country this year. Or not.
First came news that Teslas had been banned from Chinese military installations because their cameras could inadvertently capture classified information. Then there were reports that sales were down significantly, something my colleague Johnna Crider exposed as false a few days ago. Then there was a minor recall for Chinese made Teslas that was a tempest in a teapot.
“The China growth story is the top of the list for Tesla,” Dan Ives, tech analyst with Wedbush Securities, tells CNN Business. “This is their key market. We believe 40% of their sales will come from there next year. I think that’s the linchpin to the stock going up or down.”
Regulatory Credits
One of the constant complaints about Tesla is that it makes more money selling zero-emission credits to other manufacturers than it does selling cars. If its net income for the second quarter exceeds those credits, that will be a significant milestone for the company. “That would throw one of the core bear arguments against the stock out the window,” Dan Ives says. The consensus estimate is that Tesla will report net income of more than $600 million. In the first quarter, it made $518 million from selling credits.
Bitcoin
In February, Tesla said it had purchased $1.5 billion worth of Bitcoin and would allow customers to pay for their cars using the digital currency. In April, the company announced it had netted $101 million from its Bitcoin transactions. The value of digital currencies can fluctuate wildly over short periods of time, which makes professional investors nervous.
For a while, Tesla stopped accepting Bitcoin payments, saying the platform used too much electrical power from fossil fuel sources. But now Elon says Bitcoin may soon be welcome again. Once again, Ives thinks dabbling in Bitcoin is a negative sign that worries investors, much like twisting the tail of the SEC or sparking up a phattie with Joe Rogen. Expect more on this topic to surface during the Q2 earnings call.
Supply Chain Concerns
It’s common knowledge that automakers around the world are struggling to manage a shortage of computer chips, the tiny devices that manage everything from blind spot detection to stability control and adaptive cruise control systems. Tesla is no exception. In addition, demand for lithium, nickel, and other raw materials to manufacture batteries is soaring as more and more manufacturers join the EV revolution. Analysts will be looking for information about how Tesla is managing its supply chains to control costs.
Gigafactories
Tesla is moving full speed ahead to bring its two newest factories in Germany and Austin online while expanding its production facility in Shanghai to produce the Model Y. That’s a lot for any company to manage. It says both Germany and Austin will begin producing automobiles this year before transitioning to full production early next year. Investors will be anxiously awaiting updates on both new factories during the Q2 earnings call.
The Cybertruck
In March, Elon tweeted that there would likely be an update about the Cybertruck during the Q2 earnings call, so we will be paying close attention to any news on that front. Last week we reported that Musk is unconcerned about whether his unconventional electric pickup truck will be a sales hit, saying he likes it even if no one else does. (You either love it or hate it.)
Update probably in Q2. Cybertruck will be built at Giga Texas, so focus right now is on getting that beast built.
With GM, Ford, and now Dodge saying they will have electric pickup trucks of their own soon, and the Rivian R1T set to debut in a few months, it will be interesting to see whether Americans will be able to tear themselves away from the traditional looking trucks they love or whether Tesla will trim its sails to make the Cybertruck more appealing to mainstream truck buyers.
The Supercharger Network
Last week, Musk tweeted, “We’re making our Supercharger network open to other EVs later this year.” Investors will be expecting to learn more about that announcement. Morgan Stanley auto analyst Adam Jonas wrote in a research note afterward, “By 2030, we conservatively estimate Tesla supercharging revenue of $2.9 billion, a figure which does not include any revenue from non-Tesla vehicles.” How much revenue could Tesla get from drivers of non-Tesla electric cars? That’s a question that is sure to be raised.
FSD
Another recent development is an announcement from Tesla that it will soon offer its “Full Self Driving” package on a subscription basis. This could be the biggest marketing bonanza since Coca-Cola decided to sell its elixir in bottles. Decades ago, the auto industry found out that leasing could unlock a torrent of new sales. Perhaps subscription services will have a similar impact on revenue. Lots of people might subscribe to a FSD package who would otherwise balk at spending $10,000 for it up front. People will want to hear more about this.
There will also likely be requests for more info on when the FSD V9 Beta will roll out to all Americans who paid for FSD. The last we heard, the answer was ~2 weeks — but that’s been the answer for ~7 months (if not more).
Tesla Semi
With everything else going on at Tesla, it’s easy to overlook the Tesla Semi that has been gestating for a few years now. Production should be beginning soon and investors will be hungry for details.
Energy Storage
The jury is still out on whether Tesla’s acquisition of SolarCity was a brilliant marketing move that fit perfectly with Tesla’s mission or naked nepotism designed to bail out two of Elon’s cousins (as some people suing Mr. Musk argue), but there is no question Tesla is one of the global leaders in grid-scale energy storage. Elon himself has said he expects energy storage will create as much revenue as Tesla’s car business. This whole topic is usually found somewhere toward the end of the official earnings report, but it is really the key to whether Tesla shares will become more attractive to investors in the short and medium term.
Check back later to see how many topics we guessed right about and which ones came up that we didn’t anticipate. We’re not perfect, but we’re usually pretty darn close about these things.
The electric Chevy Equinox is America’s best-selling EV outside of Tesla. Cadillac is now leading the luxury segment, but GM said its aggressive EV expansion is over as it shifts back to ICE vehicles.
Chevy, Cadillac drive GM EV sales growth in Q3
GM’s electric vehicle sales are growing faster than those of any major OEM in the US. In the third quarter, Chevy, Cadillac, and GMC sold nearly 67,000 EVs, more than doubling from Q3 2024.
Combined, GM accounted for 16.5% of all EV sales in the US in Q3. Although it’s outpacing the industry, GM is pulling back EV plans and will continue to offer several internal combustion engine (ICE) vehicles for a bit longer than expected.
After achieving its highest third-quarter market share since 2017, GM’s CEO Mary Barra said, “With the evolving regulatory framework and the end of federal consumer incentives, it is now clear that near-term EV adoption will be lower than planned.
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Due to the changes, GM is “reassessing” EV capacity and manufacturing in the US. Barra said the company “aggressively expanded our electric vehicle capacity” over the past few years to meet the regulatory requirements.
(Source: GM)
With the recent policy changes, including the $7,500 federal tax credit expiring at the end of September, GM is shifting back to ICE vehicles.
“It’s clear that ICE volumes will remain higher for longer,” Barra explained, adding that GM will continue to produce gas-powered vehicles for the foreseeable future.
Cadillac ESCALADE IQL electric SUV (Source: Cadillac)
GM is onshoring production of the Chevy Blazer. It’s also developing a next-gen Cadillac CT5 and plans to extend the Cadillac XT5. In early 2027, GM will begin building the Cadillac Escalade and a new full-size, light-duty pickup at its Orion Assembly plant.
Although Barra still claims that “electric vehicles remain our North Star,” GM announced last week that its shifting EV plans would cost about $1.6 billion.
Chevy Equinox EV LT (Source: GM)
GM beat top and bottom lines in the third quarter, posting $45.59 billion in revenue with an adjusted EPS of $2.80. Share prices are trading up over 13% after GM raised its full-year guidance. The company now expects an adjusted EBIT of $12 to $13 billion, up from the previous $10 to $12.5 billion it previously forecasted.
It is also expected to take less of a tariff hit than expected. GM updated its full-year gross tariff impact to $3.5 to $4.5 billion, down from $4 to $5 billion.
2026 Cadillac Vistiq electric SUV (Source: GM)
Meanwhile, GM’s net income plunged 57% to $1.3 billion in Q3, down from about $3.1 billion in the same period last year.
GM’s CFO Paul Jacobson said during an interview on CNBC’s Squawk Box Tuesday morning that about 40% of the company’s EVs were profitable on a production basis. He explained that GM expects EVs to take longer than anticipated to reach profitability.
“We continue to believe that there is a strong future for electric vehicles, and we’ve got a great portfolio to be competitive, but we do have some structural changes that we need to do to make sure that we lower the cost of producing those vehicles,” Jacobson said.
2026 GMC Sierra EV AT4 (left) and Elevation (right) trims (Source: GMC)
Looking ahead, GM is focused on restoring profit margins in North America (8 to 10% adjusted EBIT margins), while also “driving EV profitability, maintaining production and pricing discipline, managing fixed costs, and further reducing tariff exposure.”
GM said it will continue to invest in new battery chemistries, form factors, and architectural improvements to boost EV profits in the future.
The shift comes despite Chevy, Cadillac, and GMC’s strong growth, largely thanks to EVs. Chevy is the fastest-growing electric vehicle brand, with the low-cost Equinox EV proving to be a hit. Cadillac is the best-selling luxury EV brand in the US this year (excluding Tesla) with three of the top ten models, including the Lyriq, Optiq, and Vistiq.
Looking to try GM’s electric vehicles for yourself? From the Chevy Equinox EV to the Cadillac Escalade IQ, you can use our links below to find available models near you.
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Tesla has slashed lease prices across most of its electric vehicle lineup in the US to create more demand after the tax credit went away.
With demand in the US pulling forward into Q3 due to the end of the federal tax credit, Tesla had a surge in deliveries, but demand is expected to fall in Q4.
The automaker is now adjusting its prices, starting with leases, to try to drum up demand.
With an overnight update to its online configurator, Tesla slashed lease prices:
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Model 3 (RWD): Dropped by $100 to $329/month (from $429).
Model Y (Long Range): Dropped by $80 to $449/month (from $529).
Cybertruck (AWD): Dropped by $50 to $699/month (from $749).
However, the automaker also warns that prices are going to go back up on November 1st:
While Tesla often offers temporary discounts, they often tend to happen toward the end of quarters.
In this case, it appears that Tesla is seeking an earlier boost in demand.
Without the tax credit, most of Tesla’s vehicles have virtually become $7,500 more expensive overnight in the US, which has remained its only healthy large market since a decline in demand in 2024.
Electrek’s Take
$330 per month for a Model 3 RWD is not a bad deal, but there are many good deals in the EV leasing world right now, and I would expect to see even more attractive deals toward the end of the year.
I’m on the market to upgrade my Model 3, but I’m on the lookout for some fire deals, from Tesla or others, toward the end of the year.
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BOO! It’s Halloween 2025 and Rivian is helping its owners get in the spirit.
Did I scare you?
We are now ten days away from Halloween 2025 and Rivian is rolling out a fun little software update that converts your R1S or R1T into a unique theme it calls “vehicle costumes.”
While most of the year is dedicated to more robust updates that fix bugs and introduce new features (which we also cover), Halloween offers the Rivian team an opportunity to be creative, enabling its EV owners to get a little spooky and festive with a unique theme.
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Last year’s “costume” was themed after both Knight Rider and Back to the Future options, transforming the dash displays while delivering unique light and sound displays on the exterior.
As I reported last week, Rivian began teasing its 2025 Halloween theme on social media with a brief video, saying something was “bubbling.” I surmised by the moss on the vehicles front end and its proximity to water, that this year’s vehicle costume would have something to do with the swamp.
That was correct.
In fact, I was fortunate enough to get access to Rivian’s 2025 Halloween theme a little early and I filmed all the sights and sounds for you in a video below. Behold, Spooky Swamp!
The driver dash display during this year’s Halloween Theme/ Credit: Scooter Doll
Rivian’s Halloween 2025 theme emerges from the swamp
Per Rivian, this year’s vehicle costume for Halloween 2025 was inspired by “Bayou Country” — the newest chapter in the American automaker’s “Real Adventures” campaign.
As you’ll see in the video, Rivian’s 2025 Halloween update delivers a number of selectable options, altering the colors and sounds both inside and out of the vehicle. Everything is activated from the Rivian app while your R1S or R1T is in park.
Here are the four exterior displays to choose from:
Swamp Gas
Player Piano
Bayou Blast
Scary Spirit
Furthermore, you can choose to activate these exterior displays manually, or via motion sensor in front of the vehicle.
Another creepy option this year is “spooky overhead lights” which, occasionally flashes your EV’s interior lights like you’re in a horror film. Very creepy.
Inside the Rivian cabin, you’ll find even more immersive Halloween ambiance for 2025, including four unique background tracks, providing a soundtrack to pumpkin-filled bayou animations across both display screens. Here are the four tracks, which I play for you in my video below.
Bayou Blues
Swampy Ambiance
Cajun Crawl
Ghostly Gloom
Last but not least, you can activate a slew of creepy sound effects while creepin’ out in the cabin. All with a simple tap. Here are those effects (these are not official names, just what I call them):
Alligator growl
Snake
Skeleton Laugh
Creaky Haunted House
Frog
Thunderstorm
Last but not least, as promised, is my video, shot for you to experience Rivian’s 2025 Halloween theme, regardless of whether you own or lease one. Note that I did deploy my own fog machine (yes I have a fog machine lying around the house, why don’t you?) So not all of the visual effects you see come with the Rivian update.
Happy Halloween!
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