This Week In Tesla - TSLA Reports Highly Unexpected Q3 Earnings, New Autopilot Accident Numbers, Model Y Production Timeline Accelerated

Astonishing TSLA 3rd Quarter Profits Reported

Once more, skeptics of both Tesla and TSLA were proven wrong. This time it comes in the form of the Q3 earnings call, where the entirety of Wall Street foresaw losses by the company at -$0.42 a share and revenue of $6.33 billion. Tesla reported a surprising gain of $1.91 a share (Non-GAAP), but fell short in terms of revenue, coming in just shy at $6.30 billion. Tesla also made a few significant announcements along with the financial report.

New Autopilot Information Released

One other piece of information disclosed was the updated autopilot numbers. Throughout the 3rd quarter, the Autopilot system was involved in one accident every 4.34 million miles engaged, rather than the national average of one in every 0.5 million miles. Although these numbers are highly impressive, especially as the system continues to evolve with features such as Navigate On Autopilot and more on the way, the underlying truth is that almost every Tesla driver only engages the Autopilot system in a situation that they would deem manageable and safe for the system to take control, so there are always more factors than a simple comparison of two numbers can convey.

In addition to the Autopilot information, there was also information about the new Smart Summon and how much it has been used. There have been over 1 million uses of the feature, according to CEO Elon Musk, and with all of this gathered data, Musk stated there will be an update coming for the feature within a week. He also mentioned that the Autopilot team, of which he recently took control, will have Full Self Driving ready for early access release by the end of the year. Elon also noted that this is just an estimation based on where they are at now, and by no means a guarantee.

Production Announcements Made Regarding Semi and Model Y

Although the production of the Tesla Semi, one of the least talked about of Tesla’s upcoming vehicles, was delayed recently, during the earnings call it was revealed that they are now aiming to finally begin production in 2020. There were also updates regarding the Model Y timeline, pushing the production estimate up from the previously announced fall 2020 to the summer of 2020.

It has been really exciting to see both the Semi and Model Y spotted out in the wild, doing what they are respectively built for. All in all, 2020 stands to be a great year for Tesla fans around the world with hopefully more profitability, many autopilot updates, and the Model Y & Semi coming to life - all helping in the company’s mission to change the world.

‍