Tesla set to report Q3 deliveries ahead of robotaxi event

Published

1 year ago

October 1, 2024

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Tesla is set to report third-quarter vehicle production and delivery numbers on Wednesday.

Analysts are expecting Elon Musk‘s automaker to report about 463,310 deliveries, according to estimates compiled by FactSet StreetAccount. That would include about 435,900 of Tesla’s Model 3 sedans and Model Y SUVs.

Tesla reported deliveries of 435,059 and production of 430,488 vehicles for the same period a year ago, before it was selling the Cybertruck. More recently, Tesla reported deliveries of 443,956 and production of 410,831 vehicles for the second quarter of 2024.

If Tesla meets analysts’ expectations that would represent a 6.5% year-over-year increase for deliveries after declines in the first and second quarters of 2024.

Deliveries are not defined in Tesla’s financial disclosures, but they are the closest approximation to units sold reported by the company.

In the third quarter, as it did earlier this year, Tesla continued to offer a variety of incentives and financing plans to drive sales volumes, particularly in the largest market for EVs in the world, mainland China.

Tesla hasn’t given specific guidance for the full year of deliveries in 2024, but the company has said it expects a lower delivery growth rate this year versus last. Wells Fargo, pointing to this lack of guidance, said in a note that it’s expecting 1.63 million full-year deliveries for Tesla and third-quarter deliveries at around 440,000, below consensus.

Goldman Sachs last week said it expects Tesla deliveries and production “to come in-line with consensus, largely driven by the strength in the China market.” Goldman Sachs recommended buying call options ahead of the Wednesday report.

Robotaxi day in focus

Shares in the EV maker are up more than 20% over the past month, in anticipation that deliveries could improve year over year and sequentially in the third quarter, and ahead of the company’s robotaxi day on Oct. 10.

Tesla plans to host investors and fans at its “We, Robot” marketing event at a Warner Bros. Discovery movie studio in Los Angeles.

The automaker is expected to show off the design of a “dedicated robotaxi,” which Musk has referred to previously as the CyberCab. Tesla may also provide updates on its humanoid robotics project “Optimus” and other automotive and AI-driven products and services.

Tesla EV sales and revenue fell in the first half of 2024, and the company still has yet to deliver a self-driving system that can function as a robotaxi without a human driver at the wheel ready to steer or brake at any time. Tesla also renamed its premium driver assistance option to Full Self-Driving Supervised, tacking on a disclaimer-style term at the end.

Meanwhile, several rivals in the autonomous vehicle industry have begun producing robotaxis, and operating commercial robotaxi services. Rivals include Alphabet-owned Waymo in the U.S., and Pony.ai and Baidu in China. Amazon-owned Zoox is preparing a launch of a commercial robotaxi service in the U.S. as well.

Tesla brand erosion

Some customer interest in buying Tesla vehicles has been chilled by the brand’s strong association with Musk.

The company’s favorability among both liberal and conservative consumers fell in July, according to CivicScience. Tesla favorability dropped with Democrats to 18% in July, down from 39% in January, and it declined among Republicans to 22%, down from 36% in January.

Musk — who also leads SpaceX, X and xAI — has long shared provocative posts on social media, but in recent years, he’s become less filtered and more vociferous online about his right-wing political beliefs.

In July, he publicly endorsed former President Donald Trump, and he frequently posts screeds on X concerning illegal immigration, election fraud, crime, violence and other flashpoint issues.

He has shared political misinformation and deepfakes with his massive online following on X, according to reports by The Associated Press, CNN, NBC News, The New York Times and others. Before Musk acquired Twitter, now known as X, his feed focused more on Tesla and SpaceX, according to an analysis by The Washington Post.

Among the posts Musk recently spread on X were false claims that Haitian immigrants in Springfield, Ohio, were eating people’s pets. The Springfield Police Division, Ohio Gov. Mike DeWine and other local groups have all said the claims were baseless.

It remains to be seen whether left-leaning customers’ view of Musk will weigh on deliveries this year. Pew Research has found that Democrats have a much more favorable view of battery-electric vehicles and are more likely to buy them than Republicans in the U.S.

Technology

How black boxes became key to solving airplane crashes

Published

21 hours ago

November 30, 2025

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How black boxes became key to solving airplane crashes

After the search for survivors and recovery of victims in tragic aviation accidents — like that of a UPS cargo plane shortly after takeoff from Louisville Muhammad Ali International Airport in Kentucky last month — comes the search for flight data and a cockpit voice recorder often called the “black box.”

Every commercial plane has them. Aerospace giants GE Aerospace and Honeywell are among a few companies that design them to be nearly indestructible so they can help investigators understand the cause of a crash.

“They’re very crucial because it’s one of the few sources of information that tells us what happened leading up to the accident,” said Chris Babcock, branch chief of the vehicle recorder division at the National Transportation Safety Board. “We can get a lot of information from parts and from the airplane.”

Commercial aircraft have become very complex. A Boeing 787 Dreamliner records thousands of different pieces of information. In the case of the Air India crash in June, data revealed both engine fuel switches were put into a cutoff position within one second of each other. A voice recording from inside the cockpit captured the pilots discussing the cutoffs.

“All of those parameters today can have a very huge impact on the investigation,” said former NTSB member John Goglia. “It’s our goal to to provide information back to our investigators who are on scene as quick as we can to help move the investigation forward.”

This crucial data can also help prevent future accidents. A crash can cost airlines or plane manufacturers hundreds of millions of dollars and leave victims’ families with a lifetime of grief.

But in some circumstances black boxes were destroyed or never found. Experts say further developments such as cockpit video recorders and real-time data streaming are needed.

“The technology is there. Crash worthy cockpit video recorders are already being installed in a lot of helicopters and other types of airplanes, but they’re not required,” said Jeff Guzzetti, aviation analyst and former accident investigator for the Federal Aviation Administration and NTSB. “There’s privacy and cost issues involving cockpit video recorders but the NTSB has been recommending that the FAA require them for years now.”

Watch the video to learn more.

— CNBC’s Leslie Josephs contributed to this report.

Technology

Stocks end November with mixed results despite a strong Thanksgiving week rally

Published

3 days ago

November 28, 2025

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Stocks end November with mixed results despite a strong Thanksgiving week rally

Technology

Palantir has worst month in two years as AI stocks sell off

Published

3 days ago

November 28, 2025

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Palantir has worst month in two years as AI stocks sell off

CEO of Palantir Technologies Alex Karp attends the Pennsylvania Energy and Innovation Summit, at Carnegie Mellon University in Pittsburgh, Pennsylvania, U.S., July 15, 2025.

Nathan Howard | Reuters

It’s been a tough November for Palantir.

Shares of the software analytics provider dropped 16% for their worst month since August 2023 as investors dumped AI stocks due to valuation fears. Meanwhile, famed investor Michael Burry doubled down on the artificial intelligence trade and bet against the company.

Palantir started November off on a high note.

The Denver-based company topped Wall Street’s third-quarter earnings and revenue expectations. Palantir also posted its second-straight $1 billion revenue quarter, but high valuation concerns contributed to a post-print selloff.

In a note to clients, Jefferies analysts called Palantir’s valuation “extreme” and argued investors would find better risk-reward in AI names such as Microsoft and Snowflake. Analysts at RBC Capital Markets raised concerns about the company’s “increasingly concentrated growth profile,” while Deutsche Bank called the valuation “very difficult to wrap our heads around.”

Adding fuel to the post-earnings selloff was the revelation that Burry is betting against Palantir and AI chipmaker Nvidia. Burry, who is widely known for predicting the housing crisis that occurred in 2008 and the portrayal of him in the film “The Big Short,” later accused hyperscalers of artificially boosting earnings.

Palantir CEO Alex Karp vocally hit the front lines, appearing twice in one week on CNBC, where he accused Burry of “market manipulation” and called the investor’s actions “egregious.”

“The idea that chips and ontology is what you want to short is bats— crazy,” Karp told CNBC’s “Squawk Box.”

Despite the vicious selloff, Palantir has notched some deal wins this month. That included a multiyear contract with consulting firm PwC to speed up AI adoption in the U.K. and a deal with aircraft engine maintenance company FTAI.

But those announcements did little to shake off valuation worries that have haunted all AI-tied companies in November.

Across the board, investors have viciously ditched the high-priced group, citing fears of stretched valuations and a bubble.

In November, Nvidia pulled back more than 12%, while Microsoft and Amazon dropped about 5% each. Quantum computing names such as Rigetti Computing and D-Wave Quantum have shed more than a third of their value.

Apple and Alphabet were the only Magnificent 7 stocks to end the month with gains.

Sill, questions linger over Palantir’s valuation, and those worries aren’t a new concern.

Even after its steep price drop, the company’s stock trades at 233 times forward earnings. By comparison, Nvidia and Alphabet traded at about 38 times and 30 times, respectively, at Friday’s close.

Karp, who has long defended the company, didn’t miss an opportunity to clap back at his critics, arguing in a letter to shareholders that the company is making it feasible for everyday investors to attain rates of return once “limited to the most successful venture capitalists in Palo Alto.”

“Please turn on the conventional television and see how unhappy those that didn’t invest in us are,” Karp said during an earnings call. “Enjoy, get some popcorn. They’re crying. We are every day making this company better, and we’re doing it for this nation, for allied countries.”

Palantir declined to comment for this story.

WATCH: Palantir CEO Alex Karp: We’ve printed venture results for the average American