Tesla Achieves Record Q3 Revenue Amid Strategic Shifts

Tesla reported a record third-quarter revenue of $28.1 billion, surpassing Wall Street expectations due to high electric vehicle sales. However, profit per share was below expectations. With a strategic focus on self-driving technology, Tesla introduced lower-cost vehicle variants to increase volumes, but analysts warn of potential margin squeezes.

Tesla has announced a remarkable achievement in the third quarter, posting record revenue figures that have outpaced Wall Street projections. The electric vehicle giant reported a revenue of $28.1 billion for Q3, surpassing the $26.37 billion predicted by analysts, as a surge of buyers sought to take advantage of a key tax credit.

While Tesla's earnings per share landed below expectations at 50 cents, the company continued its strategic pivot by advancing its self-driving 'robotaxi' service in Austin. The move reflects Tesla's ambition to evolve beyond traditional vehicle sales into a future-oriented focus on robotics and artificial intelligence.

Amidst this growth, Tesla introduced cost-effective variants of its Model Y and Model 3 to drive volume, in response to the expiration of a $7,500 tax credit. Despite these efforts, analysts caution that profit margins could be pressured due to price reductions, as the company anticipates challenges from increased competition and shifting policy landscapes.

(With inputs from agencies.)